Baku. 10 April. REPORT.AZ/ On Friday, 7 April 2017, PwC Azerbaijan organized awareness session on Transfer Pricing (TP) in JW in Marriott Hotel Baku. Report was told in the company, during the session, PwC’s experts talked about TP in a global context, explained what it means for Azerbaijan, compared local TP regulations with those in the OECD countries, Georgia and Kazakhstan, and provided practical recommendations for preparing for the new TP requirements in Azerbaijan. “In the increasingly transparent world, we recognize this new to Azerbaijan TP regulation as a clearly positive move”, said Michael Ahern, Tax and Legal Partner of PwC Azerbaijan.
In 2017, TP rules were introduced to the Tax Code in Azerbaijan and detailed transfer pricing regulations are in effect since February 2017. TP rules apply to cross-border transactions with related parties and entities registered in tax havens. In addition, transactions between Azerbaijan PEs of non-residents and branch or representative offices of such non-residents based in foreign countries are also subject to TP rules. The session featured presentations by PwC Tax team including Michael Ahern, Rizvan Gubiyev, Rashad Abbasov, Gunay Rustamova, Anuar Mukanov and Anastasiya Kipiani.
PwC Azerbaijan will continue leveraging extensive local and international experience to help clients comply with the legislation. PwC’s purpose is building trust in society and solving important problems of clients. The company achieved this by offering client centric solutions in tax, legal, assurance and advisory from strategy through execution. Over 130 professionals from 6 countries working in PwC Azerbaijan share their thinking, values, experience and solutions to develop fresh perspectives and practical advice for clients.
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