PwC Azerbaijan hosted awareness session on Transfer Pricing (PHOTO)
On Friday, 7 April 2017, PwC Azerbaijan organized awareness session on Transfer Pricing (TP) in JW Marriott Hotel Baku.
During the session, PwC's experts talked about TP in a global context, explained what it means for Azerbaijan, compared local TP regulations with those in the OECD countries, Georgia and Kazakhstan, and provided practical recommendations for preparing for the new TP requirements in Azerbaijan.
"In the increasingly transparent world, we recognise this new to Azerbaijan TP regulation as a clearly positive move", said Michael Ahern, Tax and Legal Partner of PwC Azerbaijan.
In 2017, TP rules were introduced to the Tax Code in Azerbaijan and detailed transfer pricing regulations are in effect since February 2017. TP rules apply to cross-border transactions with related parties and entities registered in tax havens. In addition, transactions between Azerbaijan PEs of non-residents and branch or representative offices of such non-residents based in foreign countries are also subject to TP rules.
The session featured presentations by PwC Tax team including Michael Ahern, Rizvan Gubiyev, Rashad Abbasov, Gunay Rustamova, Anuar Mukanov and Anastasiya Kipiani.
PwC Azerbaijan will continue leveraging our extensive local and international experience to help our clients comply with the legislation.
The purpose of PwC is to build trust in society and solve important problems. It is a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more by visiting www.pwc.com.