Azerbaijan Parliament Ratifies Agreements with Jordan, Indonesia and South Korea
Azerbaijan, Baku, 2 October / corr Trend I.Khalilova / The Azerbaijani Parliament has ratified the intergovernmental agreements on tax and technical economical cooperation with Jordan, Indonesia and South Korea.
The agreements signed with Jordan to avoid the double taxation in relation to incomes and property and elimination of evasion from tax payment and on mutual protection and encouragement of investments were ratified. They were signed in Baku on 5 May 2008.
The agreements signed in Baku on 19 May 2008with South Korea to avoid the double taxation in relation to incomes and property and elimination of evasion from tax payment and with Indonesia (signed in Baku on 19 May 2008) on technical economical cooperation were ratified.
All signed agreements were designed for five years, excluding the agreement with Jordan on investments protection, which will be in force during 10 years.
Since 1 January 2008 the agreement inked with Switzerland to avoid double taxation came into effect, and from next year it is planned to conclude it with Tajikistan, Qatar, Jordan and South Korea. Presently, the agreements with 27 countries on avoidance of double taxation, including the agreements ratified with two countries, have legal force.
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