Several Amendments to the Azerbaijan Tax Code were approved on 27 December 2024. Some of the main amendments are summarized as follows: The tax rate on the net profit of a branch or permanent establishment in Azerbaijan transferred to a non-resident parent is reduced from 10% to 5%; Transfer pricing penalties are amended: the penalty for failing to submit transfer pricing reports or submitting incorrect information is increased from AZN 2,000 to AZN 6,000 (also applies for CFC reports); and a penalty of AZN 6,000 is set for failing to submit transfer pricing documentation within 60 days of a request...