Astana: In a significant development in economic relations between Azerbaijan and Kazakhstan, a new round of negotiations was successfully conducted in Astana on the draft ‘Convention between the Government of the Republic of Azerbaijan and the Government of the Republic of Kazakhstan on the elimination of double taxation and the prevention of tax evasion with respect to taxes on income and property.’

According to Azeri-Press News Agency, the talks involved experts from the State Tax Service under the Ministry of Economy and an authorized representative of the Ministry of Finance from Azerbaijan, while Kazakhstan was represented by officials from its Ministry of Finance. The discussions led to consensus on most provisions of the proposed Convention concerning taxation.

The negotiations were characterized by a spirit of mutual understanding, with both parties committing to expedite the resolution of the remaining articles in the draft. In addition to the Convention discussions, there was an exchange of views with Kazakhstan’s National Revenue Committee on the topic of “Transfer Pricing,” where both nations reviewed their experiences and agreed to enhance cooperation between their respective authorities in the future.