Azerbaijan, Czech Republic sign an agreement on cancellation of dual taxation

Business Materials 25 November 2005 13:50 (UTC +04:00)

The governments of Azerbaijan and Czech Republic signed in Prague on Wednesday an agreement on avoiding dual taxation, evasion from payment of income and property tax, as well as preventing evasion from tax payments. The signatories were Fazil Mammadov, the Azerbaijani Minister for Taxes, and Boguslav Sobotka, the Czech Deputy Premier, the Finances Minister, the Taxes Ministry announced on Friday.

So far, Azerbaijan has held talks on the issue with 40 world countries and at present it has similar documents with 15 foreign countries, in particular, with the UK, Norway, Turkey, Austria, Russia, Ukraine, Kazakhstan, Belorus, Georgia, Moldova, Uzbekistan and Germany.

Upon the application of the agreements on cancellation of dual taxation and avoiding payment of incomes and property tax signed with Lithuania and Romania, the similar
agreement with Poland was put to force. Besides, the agreements were also adopted with Belgium, Switzerland, Pakistan, France, Germany, while the date of enactment of the law is still to be made precise.

The similar agreements, signed with Canada, China, Finland and Latvia, are still to enact to into law. Besides, draft agreement have been accorded with 9 countries more (Bulgaria, Qatar, Denmark, Estonia, Switzerland, Sweden, the Netherlands, Quwait and Luxembourg and they are waiting for signing.

At present Azerbaijan is continuing talks in this direction with 6 countries, including Greece, India, Iran, United Arab Emirates, Kyrgyzstan, and Oman.