Azerbaijan- Recounts tax reform progress in IMF meeting
On March 11, 2014, there was a meeting between an International Monetary Fund (IMF) delegation and Azerbaijan's deputy minister of taxes. In recent years Azerbaijan’s tax revenues have been increased due to the establishment of a durable,
See MoreAzerbaijan- Progress towards WTO accession
At the 11th meeting of the Working Party on February 21, 2014 Azerbaijan's World Trade Organization (WTO) accession bid gained positive momentum. Azerbaijan has been diversifying its economy away from reliance on the energy sector alone and has been
See MoreIsrael and Azerbaijan to sign a Double Tax Avoidance Agreement
Azerbaijan and Israel are going to sign a Double Tax Agreement for the avoidance of double taxation. Azerbaijan's State Customs Committee has reported that trade turnover between Azerbaijan and Israel in 2013 reached $1.28 billion. Azerbaijan
See MoreAzerbaijan: 2013 Tax Revenues
Azerbaijan’s Ministry of Taxes has reported 2013 tax receipts to be AZN6.66bn, an increase from the AZN6.025bn collected in 2012. The greatest contribution came from profit tax (AZN2.37bn), followed by value-added tax (AZN1.72bn), while individual
See MoreAzerbaijan has declared the tax Policy Priorities
Azerbaijan has declared its tax policy priorities for the next 3 years which are presently being considered by the Azerbaijani parliament. The country intends to improve the tax system by introducing 7 new types of taxes, along with a real estate
See MoreAzerbaijan: Tax authority joins the Executive Board of IOTA
The Ministry of Taxes of Azerbaijan has become a member of the Executive Board of the “Intra-European Organization of Tax Administrations” (IOTA). This was announced at the 17th General Assembly of IOTA. The Ministry of Taxes of Azerbaijan is
See MoreAzerbaijan: Exemption of interest from individual income tax on savings deposits
The Parliament of Azerbaijan approved Law No. 542-IVD on 28 December 2012. According to this law interest paid on saving deposits of individuals in banks and other credit institutions is exempt from individual income tax for the period of one year.
See MoreAmendments to Azerbaijani Tax Code
The Azerbaijani parliament adopted a draft law on amendments to the Tax Code on 21 December 2012, these came into effect from 1 January 2013. These changes are aimed at improving the tax system, reducing the tax burden and improving the tax culture.
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