Baku, Azerbaijan, Oct. 11
By Azad Hasanli – Trend:
As of today, only 4 of 31 banks operating in Azerbaijan work on the principle of transparent tax partnership, according to statistical information published by Azerbaijan’s Taxes Ministry.
This list included Ziraat Bank Azerbaijan, Yapi Kredi Bank Azerbaijan, AccessBank and Bank Respublika.
Three of four banks – Ziraat Bank Azerbaijan, Yapi Kredi Bank Azerbaijan and AccessBank are the banks with fully foreign capital. Though there are both foreign organizations and local investors among the shareholders of Bank Respublika.
Only the companies that meet a number of criteria can get the status of a tax partner. These companies must timely provide tax reports, fully and timely pay tax debts, properly declare the number of employees in a company and their salary, have a strengthened e-signature, primarily engage in e-correspondence and maintain accounting in accordance with national and international standards.
In total, this list includes 481 companies, including 9 insurance and one reinsurance company (PASHA Insurance, PASHA Life, Mega Insurance, AzRe Insurance, Azerbaijan Industry Insurance Company, Silk Way Insurance, Baku Insurance, Xalq Insurance, AzInsurance, AtaInsurance), two mobile operators (Bakcell, Azerfon), oil companies (various subsidiaries of BP, SOCAR, Nobel Oil and Statoil, Azerbaijan International Operating Company and others), McDonald’s Azerbaijan, Microsoft Azerbaijan, AzeriCard processing center and others.
Full list of tax partners in Azerbaijan (link)
Tax partners receive services according to a ‘green corridor’ principle. The ‘green corridors’ allow simplified transportation of goods and vehicles through the Azerbaijani border.