Azerbaijan and U.S. to lift dual taxation

Azerbaijani Deputy Minister for Taxes Sakhib Alekperov said that Azerbaijan and the U.S. will sign an agreement in the next couple of months to lift dual taxation, Trend reports.

The U.S. plans to impose taxes on accounts of U.S. residents abroad. All world banks will start giving the U.S. Internal Revenue Service details about such accounts on July 1. Amendments to the Tax Code and other legal acts were introduced on January 1, 2014, allowing the Revenue Service to collect such information.