Azerbaijan, Denmark ink doc on double taxation avoidance (PHOTO)

Baku, Azerbaijan, Feb. 17

By Azad Hasanli – Trend:

The governments of Azerbaijan and Denmark signed a convention on avoidance of double taxation and prevention of evasion from payment of income tax.

The document was signed in Baku Feb. 17 by Azerbaijani Minister of Taxes Fazil Mammadov and Danish Minister of Taxes Karsten Lauritzen.

During the ceremony, Mammadov said that the avoidance of double taxation will contribute to the development of trade relations between the two countries.

Lauritzen agreed that the document will provide the two countries’ entrepreneurs with wide opportunities.

Azerbaijan has signed similar agreements with 52 countries, including 23 with the EU countries. Forty-eight agreements on avoidance of double taxation have come into force.

According to the Azerbaijani State Customs Committee, trade turnover between Azerbaijan and Denmark amounted to $22.3 million in 2016. Almost the entire amount accounted for the imports from Denmark.