Azerbaijan exchanges tax data with 136 countries

The State Tax Service of the Ministry of Economy of Azerbaijan exchanges information with 136 countries within the framework of the Convention on Mutual Administrative Assistance in Tax Matters, thereby gaining access to wide-ranging tax data, Report informs, citing the service.

The state service notes that the "Multilateral agreement between the authorized bodies on the automatic exchange of information on financial accounts" (2017) and the "Multilateral agreement between the authorized bodies on the exchange of reports between countries" (2021) serve to preserve the tax database in the country, prevent tax evasion and fighting for the transfer of profits to other countries.

Since new members joined multilateral agreements over the past period, Azerbaijan will exchange information with 116 countries within the framework of automatic exchange of information on financial accounts, and with 90 countries within the framework of automatic exchange of reports between countries.