Azerbaijan signs landmark agreement to strengthen its tax treaties PHOTO

Minister of Economy of the Republic of Azerbaijan Mikail Jabbarov held a meeting with representatives of the Tax Policy and Administration Centre of the Organisation for Economic Cooperation and Development (OECD) Andrew Orbach, Thomas Balko and Sarah Shirmour.

Caliber.Az reports citing the Ministry of Economy that at the meeting with representatives of the OECD Centre for Tax Policy and Administration, a tax convention was signed and prospects of cooperation were discussed.

Azerbaijan's successful cooperation with the OECD was noted at the meeting, and our country's fulfilment of its obligations within the framework of the OECD Multilateral Conventions regulating tax issues was highly assessed. The significance of Azerbaijan's joining the Inclusive Framework for Tax Base Erosion and Profit Shifting Project (BEPS) as an associate member was emphasised and perspective directions of activities and usefulness of this platform for our country were discussed. The parties assessed the possibility of obtaining OECD technical assistance to adapt the country's tax legislation and administration to international compliance standards arising from the 15 BEPS activity areas and the Pillar 1 and Pillar 2 projects, as well as to solve tax issues related to the digitalisation of the economy.

The meeting resulted in the signing of the "Multilateral Convention on the Implementation of Measures Relating to Tax Treaties to Counteract Tax Base Erosion and Profit Shifting". By joining the Convention signed by more than 100 countries, Azerbaijan once again emphasised its commitment to the global fight against tax evasion.