Azerbaijan and Spain will eliminate double taxation, starting from since 2022, the press service of the State Tax Service under Azerbaijani Ministry of Economy reported.
According to the service, signing of the convention on the double taxation avoidance between the two countries was signed on April 23, 2014.
"The document entered into force on January 13, 2021. The convention’s application will begin since January 1 next year," the service said.
It’s expected that this document will contribute to the intensification of ties between the Azerbaijani and Spanish business structures, especially, the small and medium-sized entreprises. The local entrepreneurs will be allowed to establish joint ventures with foreign partners by attracting their investments, added the service.