BAKU, Azerbaijan, The number of countries with which Azerbaijan has automatic exchange of financial and country-related reports, has increased, State Tax Service (STS) under the Ministry of Economy of Azerbaijan told Trend.

The automatic exchange of financial statements has been established with 116 countries, while the exchange of country-by-country reports has been arranged with 91 countries.

Azerbaijan joined the agreements on the automatic exchange of financial reporting data in 2017, and the multilateral agreement on the exchange of country-by-country reporting – in 2021.

“At the initial stage, the number of countries engaged in the automatic exchange of financial statements amounted to 90, subsequently reaching 99. The exchange of country-specific reports has initially been established with 89 countries,” the State Tax Service said.

Source: TREND News Agency