Azerbaijan-Slovakia tax treaty on suspension of double taxation comes into effect

As of January 1, 2025 an agreement between Azerbaijan and Slovakia on the elimination of income double taxation for their residents has come into effect.

The treaty between Azerbaijan and Slovakia on the elimination of the double burden and the prevention of tax evasion was signed back on June 7, 2023, as Caliber.Az reports, citing the Azerbaijan's State Tax Service.  

The double taxation elimination agreement between the parties alleviates to both legal entities and individuals that are residents of one or both countries from paying taxes in their country of residence as well as in their country of origin.

To date, Azerbaijan has signed such agreements with 57 countries to avoid double taxation on income and capital, with 55 of them already in force.

By Nazrin Sadigova