The State Tax Service (STS) under the Economy Ministry of Azerbaijan and the Kazakhstani Finance Ministry have completed negotiations on a new Convention draft on the elimination of double taxation with respect to taxes on income and property and the prevention of tax evasion, Report informs, referring to the STS.
Representatives from the Main Department of International Taxation and Tax Monitoring from the Azerbaijani side, and representatives from the Department of Tax and Customs Legislation of the Ministry of Finance and the State Revenue Committee from the Kazakhstani side participated in the negotiations.
During the discussions, the parties noted that negotiations on the new Convention between the countries are of great importance for both countries. The agreement envisages creating favorable conditions for investors and establishing effective mutual relations in information exchange.
As a result of the three-day discussions, agreement was reached on most of the taxation provisions of the draft agreement. Conducted in an atmosphere of mutual understanding, the parties came to a common opinion to intensify efforts toward swiftly resolving the remaining open issues.