Azerbaijan Approves Tax Treaty With Spain

On 30 May 2014, the Azerbaijani parliament approved the law ratifying the tax treaty with Spain.

Taxes Covered

The treaty covers the following Spanish taxes:

• Individual income tax
• Corporation tax
• Non-resident income tax
• Wealth tax
• Local taxes on income and capital

The treaty covers the following Azerbaijani taxes:

• Individual income tax
• Profits tax
• Wealth tax
• Land tax

Withholding Tax Rates

• Dividends - 5% if the beneficial owner directly holds at least 25% of the paying company'…