Azerbaijan’s State Tax Service and the UK’s HM Revenue & Customs have held a further round of talks on a new double taxation convention, the Azerbaijani authority said on November 3.
The draft covers income and capital gains. For people and businesses active in both countries, a treaty matters when both jurisdictions can claim taxing rights over the same income. The proposed convention also aims to prevent tax evasion.
The two countries already have a convention signed in 1994. The announcement gave no new tax rates or effective date and did not say that a replacement treaty had been signed.