Global Transparency Forum experts visit Baku

Group of expert evaluators of the Global Forum on Transparency and Exchange of Information for Tax Purposes has visited Baku within the framework of a new stage of assessment, Azernews reports, citing the State Tax Service under the Ministry of Economy.

By becoming a member of the Global Forum on Transparency and Exchange of Information for Tax Purposes, Azerbaijan has committed to participate in the process of application and assessment of international standards of transparency and exchange of information.

The Global Forum regularly assesses the level of compliance with international standards for the exchange of tax information with other countries in member countries. As part of the process, the compliance of the existing legal and regulatory framework with international standards is assessed. The compliance of a country’s information exchange system with international requirements is assessed by a rating score.

The first phase of Azerbaijan’s assessment was completed in 2016, and the country received a high rating score – “largely compliant” (largely compliant).

Currently, the Global Forum has started a new phase of the assessment. A group of expert evaluators of the Global Forum visited Baku within the framework of the process, which will start in September 2023.

Deputy Head of the State Tax Service Ilkin Veliyev met with the group of experts and informed them about the issues of interest. Meetings of experts with representatives of other state institutions and responsible persons are also envisaged within the assessment process.

Approval of the final rating is envisaged for the end of 2024.