OECD: Azerbaijan’s joining BEPS promoting tax transparency

Azerbaijan’s joining the project “Applying package of measures against tax base erosion and profit shifting (BEPS)” is a step towards transparency in international taxation, Head of the Global Relations and Development Division at the Center for Tax Policy and Administration of the Organization for Economic Cooperation and Development (OECD) Ben Dickinson said at the Fifth Regional meeting on BEPS for Eurasian countries in Baku, Trend reports.

This project provides for the reflection of internal legislative acts of states in order to combat cases that contribute to the erosion of the tax base, and the provisions adopted by the OECD as a standard in their international agreements, Dickinson said.

Presently, 134 countries have joined this project, he noted.

Speaking at the event, Azerbaijani Deputy Tax Minister Ilkin Veliyev noted that the development of international tax cooperation and the application of international standards in this area is one of the successful ways in the fight against tax evasion.

The deputy minister informed the participants about the ongoing reforms in Azerbaijan’s tax system, noting that important work was done to reduce the shadow economy and improve the tax environment, legalize the informal labor market, stimulate the development of small and medium-sized enterprises (SMEs) through more effective tax benefits, improve tax administration and digitization.

Veliyev also noted that Azerbaijan hasn’t yet joined the Inclusive Framework on BEPS, but the government has already done important work to introduce international standards for the exchange of information, and this activity continues.

The regional meeting with the participation of about 80 representatives of the Azerbaijani Ministry of Taxes, local and foreign state bodies, the private sector, educational institutions, international and regional organizations is planned to continue until Oct. 10.