Azerbaijan: April Tax and Investment Update

Further to our February update, below is a summary of ongoing debates and tax developments in Azerbaijan.

In late February, the Parliament confirmed the “package” of investment-promoting preferences and exemptions valid over seven years in respect of PIT/CIT/VAT/Property & Land Taxes, as well as Customs Duties, for entities and individuals granted an Investment Promotion Certificate (IPC). Continue reading “Azerbaijan: April Tax and Investment Update”

Azerbaijan: Tax and Investment Update

On 29 January 2016, the World Bank made an important announcement related to the IMF/World Bank mission to Azerbaijan. The Bank’s statement read in part:

In response to numerous media inquiries, the World Bank would like to clarify the following: 
The World Bank is discussing with the Government of Azerbaijan a set of medium- and long-term measures to move to a new private-sector led growth model and increase the country’s resilience to external shocks, including low oil prices and pressure on the local currency. The Government of Azerbaijan is developing a comprehensive program of structural reforms, and the World Bank, as a long-term development partner of Azerbaijan, stands ready to provide necessary support.

Continue reading “Azerbaijan: Tax and Investment Update”