Details added (first version posted on 11:45)
Baku, Azerbaijan, April 17
By Maksim Tsurkov – Trend:
The new twinning project to be realized with the support of the European Union (EU) will help Azerbaijan increase its administrative capacity in the tax sphere, Azerbaijani Minister of Taxes Mikayil Jabbarov said in Baku on April 17.
Jabbarov made the remarks during presentation of the twinning project "Supporting the Taxes Ministry in Setting Transfer Prices and Developing Counter Measures against Tax Evasion."
Under the conditions of ever-growing globalization and increasing role of transnational corporations, the world economy faces new challenges, many of which create certain difficulties for work of the tax authorities, according to Jabbarov.
"One of such challenges is transfer prices. There are various schemes to resolve such issues. Azerbaijan is becoming more integrated into the world economy. Therefore, control over transfer prices is on the agenda and we need experience to solve the problem," Jabbarov said.
He noted that the European Commission had positively responded to Azerbaijan's initiative to launch a twinning project.
"A relevant tender was conducted and the Greek tax administration and the Greek Centre of International and European Economic Law were selected the twinning partners of Azerbaijan. They have developed the twining project," the minister said.
Jabbarov went on to say that the ministry had previously successfully implemented three twinning projects together with the EU.
Head of the EU Delegation to Azerbaijan Kestutis Jankauskas, in turn, noted that the cost of the project is 1.2 million euros, and its implementation will take 24 months.