Azerbaijan, Turkiye mulling new agreement on elimination of double taxation

Negotiations on a new draft agreement on elimination of double taxation on income and prevention of tax evasion were held between Azerbaijan and Turkiye in Ankara, Report informs, citing the State Tax Service under the Ministry of Economy of Azerbaijan.

The event was attended by experts of the State Tax Service and an authorized representative of the Ministry of Finance from Azerbaijan, and officials from the Turkish Revenue Administration.

During the discussions, the Deputy Head of the International Taxation and Tax Monitoring Department of the State Tax Service, Jeyhun Ismayilov, emphasized that starting negotiations on a new agreement with Turkiye is of great importance for both countries. He noted that if the new agreement is signed, favorable conditions will be created for investors, effective mutual relations will be formed in the exchange of information and collection of tax debts.

As a result of the three-day discussions, an agreement was reached on all provisions of the draft agreement related to taxation. During the discussions held in friendly and mutual understanding, the parties agreed to strengthen efforts to reach an agreement on the outstanding issues in a short period of time.