BAKU: Residents of Azerbaijan, if they carry out activities in Trkiye, are taxed both in Azerbaijan and Trkiye, and the essence of the abolition of double taxation is that a resident of Azerbaijan, when taxed in Trkiye, submits a document on tax payment in Azerbaijan, and on its basis, this tax is not levied on the entrepreneur in the country, the expert economist Eldeniz Amirov told Trend reports.

“The amount of tax paid should not exceed the amount payable in Azerbaijan. That is, it would be wrong to say that this decision will have a serious impact on online trade in some form,” he said.

“I don’t think there will be a serious cheapening of goods imported into our country through Trendyol. Double taxation adversely affects, in one form or another, interstate capital and the movement of technology. The abolition of double taxation removes these obstacles. This creates a favorable environment for foreign investors. Azerbaijan has already canceled double taxation with 57 countries. I think it was also very n
ecessary for the brotherly country,” Amirov added.

To note, the double taxation between Azerbaijan and Trkiye has been abolished concerning income taxes.

Source: Trend News Agency