Azerbaijan, Malaysia aim to eliminate double taxation
Baku, Azerbaijan, Sept. 19
By Seba Aghayeva – Trend:
Azerbaijan and Malaysia will sign a memorandum of understanding on elimination of double taxation, the Azerbaijani Embassy in Malaysia told Trend Sept. 19.
Currently, Malaysia and Azerbaijan are working on a draft memorandum which has been mainly agreed upon.
Both countries are interested in bilateral economic cooperation, which is testified by the preparation of the memorandum.
Representatives of Azerbaijan and Malaysia have been holding negotiations on a memorandum on avoidance of double taxation for several years.
The memorandum will promote the development of friendly relations and the establishment of trade contacts.
The first round of talks on the memorandum was held in Baku in 2015. Then the talks continued in Malaysia.
According to Azerbaijan’s State Customs Committee, trade turnover between Azerbaijan and Malaysia amounted to $19.51 million in January-August 2017, down 69.3 percent compared to the same period in 2016.