Baku, London advance cooperation on international taxation rules PHOTO

The first round of negotiations on a draft new convention between Azerbaijan and the United Kingdom on the avoidance of double taxation with respect to taxes on income and the prevention of tax evasion has been held in London.

The sides reached agreement on the majority of provisions in the draft convention and agreed to continue deliberations on the outstanding issues at the next round of talks, scheduled to take place in November in Baku, Caliber.Az reports, citing the State Tax Service. 

During the visit, the Azerbaijani delegation also met with Jon Sherman, Head of the Business, Assets and International Directorate of the UK’s His Majesty’s Revenue and Customs (HMRC). The meeting focused on the current state of cooperation between the tax authorities of both countries and prospects for further development.

The parties agreed to expand the exchange of experience and further strengthen cooperation in the fields of international taxation, tax administration, and the fight against tax violations.

By Vafa Guliyeva