Azerbaijan’s Securitization Requires Introduction of Special Tax System - Deloitte
Azerbaijan, Baku, 5 March / Trend corr A. Badalova/ Special tax privileges for investment funds to be introduced in accordance with Azerbaijani legislation will precipitate a flow of foreign capital to the country, the Director of the Tax and Law Department at Deloitte Nuram Karimov said at the international conference dedicated to securities in Azerbaijan on 4 March, Baker & McKenzie - CIS reported.
The conference was organized jointly by Baker & McKenzie with Deloitte. Their experts informed the attendees of the securities market, international tax structures worldwide and in the CIS, as well as of the opportunities of the Azerbaijani legislation for carrying our these operations.
According to Karimov, the key task is the establishment of an efficient tax system for the improvement of attractiveness of securities deals. [The International Bank of Azerbaijan, Bank Standard and Texnika Bank already have divulged their plans on securities].
The Director of Baker & McKenzie's Baku office Dan Matthews noted an increasing interest in Azerbaijan's securities deals.
Baker & McKenzie, a powerful law firm, was established in 1949. Its worldwide income exceeded $1.829bln at 30 June 2007.