Azernews.Az

Azerbaijan and the Organisation for Economic Cooperation and Development (OECD) will sign a memorandum of understanding, Deputy Minister of Taxes Sahib Alekperov said at the opening of the international seminar entitled 'Audit of multinational enterprises', which launched its work in Baku on June 10.

"Two years ago, close cooperation was established between our country and the OECD. A delegation from the organisation arrived in Azerbaijan and became acquainted with the tax system and the ministry's activities on-site. The draft memorandum to be signed in the near future is a logical continuation of this collaboration," Alekperov said.

Currently, the necessary procedural steps are nearing completion, he added.

Representative of the OECD, Ubaldo Gonzalez, said the organisation he represents is satisfied with the level of cooperation with Azerbaijan.

"Our Azerbaijani colleagues are actively involved in business meetings and other OECD activities. As you know, we will soon sign a memorandum of understanding. Azerbaijan is the first country outside the BRICS (the group of five emerging countries: Brazil, Russia, India, China and South Africa), where our cooperation has reached such a high level," Gonzalez said.

The five-day seminar in Baku is attended by representatives of the OECD Secretariat, experts from the tax authorities of the Netherlands and Sweden as well as employees of tax and auditing bodies of Azerbaijan, Georgia, Turkey, Ukraine and Belarus. The seminar will provide an exchange of experiences in the field of taxation, audit in multinational companies as well as consideration of tax planning and cooperation between the tax authorities of different countries.