Azernews.Az

By Nigar Orujova

Azerbaijan plans to sign agreement on avoidance of double taxation with seven European Union countries, Head of International Relations of the Taxes Ministry Metin Kerimli told the Vergiler (Taxes) newspaper.

"Azerbaijan has recently expanded the list of countries with which it has signed the relevant agreement," Kerimli said.

"Forty-one agreements of the total 45 signed by our country, has already entered into force. Others will come into force after the completion of the relevant procedures. Accelerated expansion of Azerbaijan's economic and trade relations has made such agreements necessary. Currently, the ministry is carrying out systematic work in this regard," Kerimli said.

He went on to note that Baku has double taxation avoidance agreement with 20 of the 28 EU member states.

"Negotiations with Spain and Denmark on the agreements have been completed, and the talks are underway with Portugal, Sweden, Malta, Ireland and Slovakia. Hopefully, they will be successfully completed in the near future," Kerimli said.

The Taxes Ministry said in September that double taxation avoidance agreements will be implemented between Azerbaijan, Croatia, and Macedonia from January 2014.

In Azerbaijan these agreements will cover individuals' income tax, tax on the profit of legal entities and property and land tax. In Croatia the agreements will cover income tax, profit tax, local income tax, while in Macedonia, the individual income tax, profit tax, property tax are included.