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EY Azerbaijan holds seminar on transfer pricinga
April, 15th 2017

EY Azerbaijan held the seminar dedicated to determination of transfer prices and regulations requirements for their application in Azerbaijan Apr. 11, 2017.

The speakers of the seminar were Zaur Gurbanov, EY tax senior manager and Najla Asadova, EY tax manager.

The presentations and discussions provided insights into definition and principles of transfer pricing and application of transfer prices in the world and CIS.

The seminar continued with a focus on replying to the question how to be ready for requirements regarding determination of transfer prices and regulations requirements for their application in Azerbaijan.

Seminar participants asked questions throughout the seminar and gave positive feedback about the presentation, showing appreciation for the work EY did as host of the event.

EY staff and Ulvi Yusifov, a head of International Treaties Division of the International Relations Department of the Ministry of Taxes of Azerbaijan, invited as guest were replying questions of the participants at the close of the seminar.

“The whole tax seminar was organized to a high quality, covering all the required explanations,” Tahmaz Rustamov, tax accountant at Pasha Holding, said. “I believe that the knowledge that I gain during the seminar will be very helpful in tax system formation of our company.”

“I would like to indicate that incorporation of a new definition of transfer price into the Tax Code has raised a number of questions in our company like in others,” said Farid Najafov, tax manager at Huawei Technologies Azerbaijan. “Especially, our participation at this presentation will be helpful insofar as the scope of our operations at arm’s length is considerable. I would like to thank EY, especially Arzu, Zaur and Najla, also to Ulvi Yusifov, a head of International the Treaties Division of International Relations Department of the Ministry of Taxes of Azerbaijan.”

EY was delighted to see all the participants at the seminar and would like to thank each of them for their enthusiastic participation.

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and economies around the world. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In doing so, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY works together with companies across the CIS and assists them in realizing their business goals. 5,000 professionals work at 20 CIS offices (in Moscow, St. Petersburg, Novosibirsk, Kazan, Krasnodar, Rostov-on-Don, Togliatti, Vladivostok, Almaty, Astana, Bishkek, Baku, Kyiv, Tashkent, Tbilisi, Minsk, and other locations).

EY refers to the global organization, and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

EY made a major commitment to the development of Azerbaijan and the region by opening the office in Baku 22 years ago. Today, in addition to being the leading audit and consulting firm in Azerbaijan, we are the leading firm in the region. As a result of our experience and competence, we have been able to assist both domestic and international companies as well as state-owned entities to develop and manage the challenges of the international economy.

There are currently 170 people working in our Baku office that serve our clients in Azerbaijan. EY's strength in the Caspian Region and the firm's commitment of resources are important to the entities operating in the region. It means that as we grow, EY will continue to demonstrate a tradition of hiring and training local professionals to be leaders in our practice.

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