Azerbaijan introduces new reporting requirement for multinational companies

Azerbaijan’s Ministry of Economy has amended reporting rules for entities belonging to multinational enterprise groups. The decision was signed by Minister Mikayil Jabbarov.

Under the new regulation, multinational groups registered for tax purposes in Azerbaijan must submit a Country-by-Country Report if their consolidated revenue exceeded the manat equivalent of €750 million in the previous financial year. The requirement aims to support automated information exchange with competent authorities of other countries under international agreements to which Azerbaijan is a party.

Previously, the obligation applied only to resident companies.

The Ministry’s Legal Department has been instructed to submit the decision to the Ministry of Justice within three days for inclusion in the State Register of Legal Acts.