Roundtable Discussion on Building Trust in Paying Taxes organized in Baku

By Azernews

By Sara Israfilbayova

American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) organized a Roundtable Discussion on “Building Trust in Paying Taxes”.

The event became a contribution to improvement of tax administration and communication between taxpayers and tax authorities in Azerbaijan and a chance to get the first-hand information on tax policy-related issues.

Nuran Kerimov, President of AmCham Azerbaijan, in the welcoming speech expressed gratitude to the Minister of Taxes and his team for the commitment to an open discourse with the business community.

In turn, Taxes Minister Mikayil Jabbarov acknowledged the importance of ensuring a sustainable dialogue between the tax authorities and the private sector representatives. In their turn, AmCham members were enthusiastic in asking questions of the common business community concern from the Tax Ministry representatives and the Minister himself.

The Roundtable Discussion was held in an interactive form. The Discussion covered a number of topics including ways of improvement of business climate, ensuring transparency and improvement of tax legislation.

The American Chamber of Commerce in Azerbaijan is a leading private, non-profit business association supporting and promoting the interests of foreign and local businesses in Azerbaijan. Established in 1996, AmCham is composed of over 280 Member-Companies and Associates active in every sector of the Azerbaijani economy. AmCham Azerbaijan represents nearly 80 percent of all foreign investment, as well as a significant portion of local investment in Azerbaijan.

The U.S. established diplomatic relations with Azerbaijan in 1992, following its independence from the Soviet Union.

Together, the two countries work to promote European energy security, expand trade and investment, and combat terrorism and transnational threats. The U.S. is committed to strengthening democracy and promoting economic diversification in Azerbaijan.

U.S.–Azerbaijani ties in economic sphere developed primarily in the context of Caspian energy resources and their transportation to Western markets. The U.S. companies are actively involved in the development of Caspian hydrocarbons in offshore Azerbaijani oilfields, and the U.S. government actively supported the Baku–Tbilisi–Ceyhan (BTC) pipeline as the primary route of transportation for Caspian oil.

The trade turnover between Azerbaijan and the U.S. amounted to $781.78 million in 2017, according to the Azerbaijani State Customs Committee.