BAKU, Azerbaijan, November 22. Azerbaijan has been awarded the highest rating of "Compliant" based on the results announced at the 48th meeting of the Peer Review Group (PRG) during the second phase of the evaluation process, Trend reports via the State Tax Service under the Ministry of Economy
Azerbaijan, a participant in the "Global Forum on Transparency
and Exchange of Information for Tax Purposes" since 2013, has
pledged to engage in the review process and adhere to international
norms for transparency and information exchange.
The Global Forum has completed two review rounds, encompassing the
decades 2010-2016 and 2016-2024. The initial phase encompassed 125
countries, while the subsequent phase commenced in September 2023
for Azerbaijan, during which specialists visited the nation to
evaluate its tax policies and legislation.
Following the results presented at the 48th meeting of the Peer Review Group (PRG) for the second phase of the evaluation, Azerbaijan was awarded the top "compliant" rating, confirming that its practices fully meet international standards. The country's rating and report were published on November 21 on the official website of the Organization for Economic Cooperation and Development (OECD).
Since 2016, the Global Forum has evaluated a total of 123 countries. Of these, 18 received a "compliant" rating, 91 were deemed "largely compliant," 12 were "partially compliant," and 2 were classified as "non-compliant."
The evaluation process has become more comprehensive since 2019, and Azerbaijan is now one of the four countries to achieve the "compliant" status. This rating highlights the country's modern tax system, which is transparent, in line with international standards, and capable of effective information exchange with global partners.
The experts also examined the availability and procedures for storing accounting and banking documents in Azerbaijan, the accessibility of this information to tax authorities, the rights and powers of tax authorities, as well as the sources of information at their disposal. They also assessed the level of taxpayer compliance with tax laws, the number of international partners Azerbaijan engages with, the quality and completeness of information exchanges, and the security measures in place to protect this information.
The top rating awarded to Azerbaijan by the Global Forum underscores the country’s modern, transparent tax system, which aligns with international standards and facilitates effective information exchange with partner countries. This recognition brings several advantages to Azerbaijan, enhancing its international standing and boosting its reputation as a reliable partner. It also plays a crucial role in fostering a favorable investment climate, increasing foreign investment, and affirming Azerbaijan’s position in global forums alongside major financial centers.
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