Press release

EY holds tax breakfast seminar in Baku

Baku, 30 January 2015

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EY Azerbaijan held a tax breakfast seminar at the Quba Ballroom of the Hyatt Hotels Baku on 30 January 2015. The seminar was led by EY’s recognized tax professionals. Over 100 participants from major companies operating in various sectors of the economy attended the seminar.

Arzu Hajiyeva, EY Tax & Law Partner, welcomed the guests with an opening speech and introduced the agenda. Ms. Hajiyeva noted that EY planned and developed the seminar to tackle the most recent changes in tax, labor and migration legislation. Ms. Hajiyeva also shared some of the most widespread new tax practice trends.

Zaur Gurbanov, EY Tax & Law Manager, was the main presenter during the seminar.
“To sum up the situation in one sentence, this year’s tax code amendments have indirectly exempted individuals from Road Tax liability; on the other side they have ended the era of fully exempt interest income for individuals” – Zaur Gurbanov.

“Connoisseurs of luxury will be affected by the rise of the excise tax on cars with high capacity engines, precious metals and on diamonds,” said Zaur Gurbanov.

The presentations and discussions also provided insight into front-line tax compliance issues. The seminar continued the focus on new tendencies in property tax reassessment and the involvement of valuators as well as other frequent issues triggering tax risks.

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.

“Presentations dedicated to recent updates gave the practical answers to the issues we face in business processes. I appreciate EY for such detailed information. And I also enjoyed the positive networking and format of the session”, shared Jeyhun Abdullayev, Chief Financial Officer of Ata Holding.

“During the session we had the opportunity to discuss different practical matters and focus on issues that claim attention”, said Khangiz Aslanova, Legal and Tax Advisor of Total E&P Azerbaijan.

“It has become a tradition for me to participate in EY Tax events. EY has already proved its value in Tax services and today we see another evidence of this. I enjoy the whole presentation and the Tax practice part was particularly interesting”, added Aynur Sultanli, Tax Advisor of Statoil. 

EY was happy to see all the participants at the seminar and thanked everyone for their time and consideration!

About EY
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 in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY is expanding its services and resources in accordance with clients' needs throughout the CIS. 4,800 professionals work at 21 offices in Moscow, St. Petersburg, Baku, Vladivostok, Ekaterinburg, Almaty, Astana, Kazan, Kyiv, Tashkent, Minsk, Tbilisi, and other locations.

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EY in Azerbaijan
EY made a major commitment to Azerbaijan and the region with the opening of our office in Baku 20 years ago. Today, in addition to being the leading audit firm in Azerbaijan, we are the leading firm in the region. Because of our experience and depth of knowledge, we have been able to assist both domestic and international companies as well as state-owned entities in developing and in facing the challenges of the international economy.

2014 was the 20th anniversary of EY in Azerbaijan. We currently have more than 170 staff in our Baku practice, who serves 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.