azerbaijan


The Wild East

Posted on September 7th, by Global Tax Weekly in Corporation Tax, Individual Taxation, Mining, Oil and Gas. No Comments

Recent tax developments in Azerbaijan are suggestive of a country with a modern outlook, keen to encourage local entrepreneurs to grow their businesses and welcome foreign investors with open arms. Taxes are low – corporate tax stands at 20 percent and the top individual tax rate has fallen to 25 percent – and lately tax reforms have focused on making life easier for companies with the introduction of more electronic services, the creation of a tax ombudsman and other measures designed to streamline tax administration. Tax holidays have also been granted to companies engaged in various non-oil related activities like information technology. According to a senior tax official, Azerbaijan is now working to harmonize its VAT regime with that of the EU. Some might see this is a retrograde step given the complexities of EU VAT law. But it is … Read More »





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