OREANDA-NEWS. August 27, 2009. Delegations of the Azerbaijan and Syrian  governments conducted the next round of negotiations to eliminate double taxation and prevent tax evasion  on profit and capital.

The Azerbaijani Ministry of Taxes reports that the representatives of both countries sped work to create  draft agreement on elimination of  double taxation right straight after the visit of Syria’s President Bashar al-Assad to Azerbaijan.

Last week, the delegation of the Syrian Ministry of Finance discussed fruitfully the points of draft agreement with the Azerbaijani counterparts.  The parties came to a principle understanding on the basic points of the project.

Leader of Syrian delegation Naim Almasri, on the whole, appreciated a negotiation process as successful.

"This agreement is very important for the bilateral investing. Our businessmen plan to invest in the Azerbaijani economy of, but it is very difficultly to do it without this agreement. We intend to coordinate the project of agreement during the shortest period,” N. Almasri noted.

In the end of negotiation process the sides signed the memorandum.

“The last round of negotiations will be held in the near future in Syria,” it was informed.

Is should be noted that to mark that Azerbaijan already signed agreements On Elimination  of Double Taxation and Prevention of Tax Evasion  on Profit and Capital with 39 countries. With 28 countries these agreements are already used. In 2009, agreements are signed with Iran, Kuwait, Greece, the  agreement, signed with Luxemburg, has come into force , agreements with Bulgaria, Estonia, Korea, Hungary, Qatar and Tajikistan started operating.

In the near future, analogous negotiations are planned to launch with Slovenia, Slovakia, Libya, Turkmenia and Bosnia and Herzegovina.