Azerbaijan and Denmark will lift double taxation

Baku. 17 February. REPORT.AZ/ The Ministry of Taxes of Azerbaijan hosted signing ceremony of “Convention on elimination of double levy in relation to taxes based on incomes and prevention of tax evasion between Government of Azerbaijan Republic and Government of Kingdom of Denmark”.

Report was informed in the ministry, Minister of Taxes Fazil Mammadov and his Danish counterpart Karsten Lauritzen have signed a convention.

F. Mammadov told that lifting double taxation will contribute to development of economic and commercial ties between our countries and support prevention of tax evasion. K.Lauritzen told that the document opens wide opportunities for both countries’ entrepreneurs.

In recent years, Azerbaijan’s network of agreements envisaging elimination of double taxes has been expanded. Such agreements have been signed with 52 countries. 48 agreements have already entered into force; the others are waiting for completion of some procedures. We signed 23 such agreements with EU member countries. Other agreements have been signed with our country’s main foreign trade partners, the countries, with which we have economic ties or interests.

International agreements for elimination of double taxes along with direct impact for creation of favorable investment climate in the country, also creates additional opportunities for mutual support of tax agencies aimed at prevention of tax evasion.