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Tax & Customs
The Tax and Customs Committee proactively addresses both existing and new tax and customs issues by maintaining a dialog with the Ministry of Taxes, Ministry of Finance and State Customs Committee and promotes change in the tax and customs system through consistent interpretation and application of existing regulations.The committee is doing this job in several ways: by engaging its members in various legislative initiatives aimed at improving the business climate, sharing experiences across the member base on challenging tax and customs issues and establishing dialog between the business community and the governmental bodies and ministries.Powered by Froala Editor
Travel, Hospitality and Tourism
AmCham Travel, Hospitality and Tourism Committee meets monthly to discuss the present situation of tourism in Azerbaijan and how to improve the country as a tourist destination.Considering the larger than normal expatriate community, an influx of short-term business travelers, and increased investment in infrastructure that are results from a very active oil sector Azerbaijan’s travel tourism industry is one of the most promising. The business travellers require and demand high quality airlines, hotels, restaurants and services in both the capital and the regions. Over the long-term, however, Azerbaijan also has the potential to attract a considerable number of international tourists. The country is blessed with ingredients that will create good memories for tourists, including natural or interesting scenery, people, a historically rich religious diversity, interesting cities to explore, unusual foods, exotic smells, opportunities to bring home memories they have purchased, and above all, safety in the country. Having these attributes should go a long way to enable Azerbaijan to redevelop its tourism industry more broadly.Taking all this into account we would like to invite all of the hotels, airlines, travel agencies that are members of the American Chamber of Commerce as well as any other member companies that are interested in shaping up the private sector efforts in developing and improving the Hospitality, Travel and Tourism in the country to join this newly created committee.Powered by Froala Editor
The mission of FMCG Working Group is to contribute to the improvement of legislation and legal practice in the areas of commercial and company law, as well as to promote standards of best practice in marketing goods and services. The issues of product safety, consumer protection, advertising etc. are of great public concern, abundant however in grey areas not yet being subject to legal scrutiny.The FMCG Working Group is constantly working on the questions below to be addressed:• What are the legal requirements for the product to be marketed?• How to market the product lawfully?• How to abide by law in contacting consumers and competitors when marketing the product?Powered by Froala Editor
Some Facts about AmCham Azerbaijan
The American Chamber of Commerce in Azerbaijan is a leading private, non-profit business association supporting and promoting the interests of foreign and local businesses in Azerbaijan. Established in 1996, AmCham is composed of over 260 Regular and Associate Member Companies active in every sector of the Azerbaijani economy. AmCham Azerbaijan represents nearly 80% of all foreign investment, as well as a significant portion of local investment, in Azerbaijan. Through its 9 industry sector committees, Member Companies are able to share information, raise issues of common concern and propose possible solutions. Being one of the largest and the most influential organizations in the country AmCham provides the best networking opportunities. Other membership benefits include access to the data on the latest tendencies in the market (through such information resources as AmCham White Papers, AmCham Annual Reports, IMPACT Azerbaijan Quarterly Magazines, Annual National Employee Salary Surveys, Quarterly Inflation Surveys); Member-to-Member Discount Program offers; U.S. Business Visa Facilitation Program benefits, etc.
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Speech of Heydar Aliyev, the President of the Republic of Azerbaijan at the opening ceremony of the American Chamber of Commerce in Azerbaijan – “Hyatt Regency Nakhchivan” Ho ...
National Leader of the Republic of Azerbaijan
As I know, part of the recently implemented reforms were developed on the basis of AmCham ideas, I would like to thank you for that.
The President of the Republic of Azerbaijan
“There are the many important contributions this Chamber has made, including through its White Papers, to improving the business climate in Azerbaijan, to fostering dialogue betw ...
Ambassador of the United States of America to the Republic of Azerbaijan (2015-2018)
“AmCham plays an immense role in improving the country’s business environment."
Deputy Assistant Secretary of State for European and Eurasian Affairs
Remarks for the AmCham by Ambassador Lee Litzenberger
Ambassador of the United States of America to the Republic of Azerbaijan
There are two types of AmCham affiliation: MEMBERS and ASSOCIATES with annual fees appliedLearn more
We currently have more than 250 members
Immediately stay up to date with every members news updates
Join "Returning” Exhibition for the Support of Heroes!
26 October 2021
EKVITA is looking for a Senior Tax Consultant
22 October 2021
EKVITA is looking for Legal Manager
19 October 2021
NEQSOL Holding announces partnership between NEQSOL Academy and LinkedIn Learning
7 October 2021
Veyseloglu Group of Companies announced the Retail Index for September
5 October 2021
A Cup of Knowledge from Deloitte Academy
30 September 2021
PwC Azerbaijan Times: Tax Update, Issue 03
29 September 2021
PwC Azerbaijan's Special Issue of Legislation update
24 September 2021
Legal Updates | August
21 September 2021
Join the 1st Azerbaijan International Reconstruction and Development of Karabakh Exhibition, “Rebuild Karabakh 2021” on October 20-22!
16 September 2021
Tekfen Construction’s Azerbaijan Country Manager appointed as the Azerbaijan Representative of DTIK (World Turkish Business Council)
9 September 2021
Introducing the leadership team of our market-leading Dentons Baku office.
27 August 2021
EMPLOYMENT AGREEMENT vs CIVIL LAW CONTRACT
1 July 2021
Foreign nationals traveling to Azerbaijan required to have a COVID-19 passport
10 June 2021
New Amendments Introduced to the Labor Code
2 June 2021
“Unico” LLC construction company has launched “Smart Young Engineer”- a month-long paid Summer Internship Program for 2021.
27 May 2021
16 May 2021
EKVITA Legal Updates | March
30 April 2021
PwC Azerbaijan Times-issue-01-2021
27 April 2021
Compliance management systems — Requirements with guidance for use
27 April 2021
The 2021 edition of Dentons Guide to Investing in renewable energy projects in Europe
2 April 2021
Draft changes to the Tax Code
2 March 2021
Coca-Cola Wins U.S. Secretary of State’s Award for Corporate Excellence for Women’s Economic Empowerment Efforts in Azerbaijan
3 February 2021
TURKISH AIRLINES STUDENT PRIVILIGES
28 January 2021
EY Business Brief
5 June 2020
Deloitte News Update
15 May 2020
Deloitte Tax News
15 May 2020
BHM Legal Update
15 May 2020
PwC Azerbaijan’s COVID-19 Alert Special Edition Issue № 13
27 April 2020
Key support measures available to business
23 April 2020
EY Business Brief
21 April 2020
EY Business Brief
6 April 2020
MBA in Finance
5 February 2020
BHM Legal Updates
17 January 2020
PwC Azerbaijan Times Issue #1
16 January 2020
Company (LLC) registration in Azerbaijan (Innovation in registration of an LLC)
29 December 2019
PwC Azerbaijan Times Issue #12
12 November 2019
Remaining time to start of AmCham Banking, Finance and Insurance Committee's October Session
Important highlights from AmCham Events
AmCham Supports UN Women’s Equity and Empowerment Agenda
The American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) is pleased to announce its support for the UN global women’s equity and empowerment agenda. This agenda supports the UN’s sustainable development goal to achieve gender equality and empower all women and girls. AmCham is a strong advocate for the equal rights of women in all aspects of society, including in economic affairs. In keeping with this goal, we commit ourselves to: helping end all forms of gender-based violence; supporting an increase in the number of women serving in leadership roles in business;ensure we include women’s voices and leadership in all AmCham efforts; and strengthening opportunities for women’s economic empowerment. “AmCham has and will continue to promote women’s inclusion and economic empowerment the activities of Chamber’s committees. As we design future programs to support these commitments, AmCham will continue to seek opportunities to partner with and support our member companies and other local businesses committed to improving the lives of all women and girls,” AmCham Executive Director Gulnara Aslanbayli said.In supporting these goals, we reiterate our belief that women’s inclusion will significantly contribute to long-term economic growth and sustainability that will improve livelihoods across Azerbaijan.
AmCham Sustainable Development and Corporate Impact Committee’s October Meeting
On October 7, 2021 AmCham Sustainable Development & Corporate Impact committee organized its monthly meeting.Guest speakers of the meeting were Ms. Amanda Orpana, Recovery and Peacebuilding Associate at the UN Resident Coordinator’s Office in Azerbaijan and Ms. Sevinj Mamedova, Executive Director of Junior Achievement Azerbaijan (JAA).The meeting was opened with the welcome speeches by Mrs. Fidan Tofidi and Mr. Jeyhun Atayev, Deputy Chairpersons of SD&CI Committee, who introduced the guest speakers to all participants and announced the agenda of the meeting.Afterwards, the first guest speaker, Ms. Amanda Orpana, Recovery and Peacebuilding Associate at the UN Resident Coordinator’s Office in Azerbaijan, shared the presentation on 2021 Azerbaijan Sustainability Survey, conducted among AmCham member companies. The main purpose of the survey was to identify AmCham member companies' awareness and understanding of the Sustainable Development Goals and the UN Global Compact’s Ten Principles. The study also aimed to examine ongoing activities around corporate sustainability and explore any future commitments made by the companies on corporate sustainability (details are available in the attached presentation). Ms. Orpana’s presentation was followed by Q&A session and discussion on further actions and possible joint activities to be taken by AmCham members in order to improve their corporate governance system, including, but not limited by the internal processes and procedures.Then the second guest speaker, Mrs. Sevinj Mamedova, Executive Director of Junior Achievement Azerbaijan (JAA), shared delivered the presentation on “Young Entrepreneurs: Empowering Future Business Leaders” project, implemented by JAA in 2018-2021 in collaboration with the Ministry of Education, PASHA Bank and the European Union. The project aimed to support modernization of educational process, cultivate, train and promote entrepreneurship skills, mindset, as well as business and leadership among youth, and increase their employability chances in the future. Mrs. Mamedova’s presentation was followed by Q&A session and call to AmCham members’ community to share the knowledge and expertise with the younger generation, the people, who need older generation’s experience to build up own entrepreneurial career.The online meeting was concluded by closing remarks from Mrs. Fidan Tofidi and Mr. Jeyhun Atayev regarding the next Committee meeting.
AmCham Azerbaijan Supports Implementation of Green Recovery Programs for Sustainable Development of the Country
“Preparation of sustainable programs for the development of "green" energy in Azerbaijan will contribute to the growth of investments in this sector” Ms. Gulnara Aslanbayli, Executive Director of American Chamber of Commerce in Azerbaijan said at the event on “Financing Sustainable Development: Sustainable and Green Recovery from the COVID-19 pandemic” held on October 6, 2021 in Baku.“The possibilities of "green" energy have not yet been fully explored at the global level and that is one of the main risks in the green growth investment. The main role of the state here is to act as a regulator and take the necessary steps to stimulate such investments. I am sure that the state programs supporting creation of Green Energy zones in the liberated territories, including the Smart City and Smart Village concepts facilitate the growth of investments aimed at the sustainable development of green energy in the country” Ms. Aslanbayli said. An event on "Financing Sustainable Development: Sustainable and Green Recovery from the COVID-19 Pandemic" was held on October 6, 2021 with the organizational support of the National Coordinating Council for Sustainable Development, the Ministry of Economy and the United Nations Development Program (UNDP) in Azerbaijan.The event focused on the discussion of the issues of financing sustainable development, new challenges for the implementation of development priorities in Azerbaijan in the post-pandemic period, opportunities to promote an environment that ensures the sustainability and quality of the economy through "green" resources, ways to achieve Sustainable Development Goals (SDGs).Mr. Mikayil Jabbarov, Minister of Economy, Deputy Chairman of the National Coordinating Council for Sustainable Development provided information on support mechanisms.UNDP Resident Representative in Azerbaijan, Mr. Alessandro Fracassetti said that the projects implemented as a result of successful cooperation between the Government of Azerbaijan and the UN Development Program are an important step towards sustainable development and is confident that this cooperation will continue in the upcoming years.The event continued with a panel session. Executive Director of the American Chamber of Commerce in Azerbaijan, Ms. Gulnara Aslanbeyli, Deputy Minister of Energy, Mr. Elnur Soltanov, Deputy Minister of Ecology and Natural Resources, Mr. Vugar Karimov, Deputy Chairman of the Chamber of Accounts, Mr. Nasir Sadigov, UNDP Deputy Resident Representative in Azerbaijan, Ms. Charu Bist took part in the panel session moderated by Huseyn Huseynov and expressed their views on the topic of discussion.
AmCham Members’ September Luncheon
On September 28, 2021, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) hosted its monthly members’ luncheon. The honorable Guest Speaker of this month was United States Ambassador to Azerbaijan, Mr. Lee Litzenberger.In the opening remarks, Executive Director of AmCham Azerbaijan, Ms. Gulnara Aslanbayli expressed her gratitude to the U.S. Ambassador for dedicated service in Azerbaijan. She emphasized that Ambassador Litzenberger has made great contributions to the activities of the Chamber and has been a responsive and committed diplomat.The event proceeded with the member presentations by Deloitte Academy and Mazarina Trade Company.Afterwards, Mr. Nuran Kerimov, President of AmCham Azerbaijan, introduced the Ambassador to the audience and passed the floor to him. Ambassador Litzenberger highlighted the Embassy’s works with the American Chamber of Commerce in Azerbaijan to promote opportunities for U.S. businesses. Ambassador Litzenberger also covered topics such as women’s economic empowerment, the importance of a clear and transparent business environment, and IPR protection.The Ambassador wished success to all the participants and thanked AmCham Azerbaijan for organization of such event that provides opportunities to discuss prospects for future cooperation. In conclusion, all the questions and comments of the participants were addressed by Ambassador Litzenberger. At the end of the luncheon, Mr. Kerimov thanked the Ambassador for his efforts and contributions to improve every aspect of the U.S. relationship with Azerbaijan.AmCham Azerbaijan Members’ Luncheons are organized monthly by the Chamber and feature participation of high ranked government officials, member companies and representatives of diplomatic corps.
First AmCham Azerbaijan Trip to Aghdam
On September 25, 2021 AmCham Azerbaijan jointly with Karabakh Revival Fund organized a trip to Aghdam city for a group of member companies. The purpose of the trip was close acquaintance with Aghdam city, as well as establishment of opportunities to explore possible contributions by member companies in economic development of the region. Firstly, AmCham leadership and member companies paid a visit to Monument complex of Karabakh khans and Imarat cemetery, Bread Museum, Aghdam State Drama Theater, Juma Mosque, Giyasli Mosque and Shahbulag complex of Aghdam city.Welcoming participants of the trip, Mr. Emin Huseynov, Special Representative of the President of the Republic of Azerbaijan in the liberated part of Aghdam, presented the New General Plan of Aghdam city. He noted that amid the plan, the creation of basic infrastructure, as well as the construction works have been actively in progress.Afterwards, Mr. Rahman Haji, Chairman of the Executive Board of Karabakh Revival Fund, informed participants on the shared goals and objectives set behind the Fund by the President of the Republic of Azerbaijan. Mr. Hajiyev talked about the variety of projects implement by the Fund, including those aimed to enhance investment attractiveness of the region, restoration of Karabakh assets, as well as development of human capital in the region.Furthermore, on behalf of AmCham Azerbaijan, Mr. Nuran Kerimov thanked Mr. Emin Huseynov, Mr. Rahman Haji and their incredible team for their dedicated work and opportunity provided, as well as expressed the readiness to cooperate and contribute in the restoration of the region.At the end of the visit, a memorial picture was taken.Aghdam region is located in the center of Karabakh - in the north-eastern foothills of the Karabakh mountain range and west of the Kur-Araz lowland which is one of the ancient and charming lands of Azerbaijan.Prior to the Armenian occupation, Aghdam had great economic potential, including in industry, agriculture, tourism and other areas. At the same time, Aghdam was of great importance in terms of its cultural and historical monuments. Undoubtedly, after the liberation, a new era is beginning for Aghdam. There are great opportunities for the reconstruction of its potential, the establishment of high-tech plants, scientific centres and new agricultural enterprises which will ultimately make a special contribution to the Azerbaijani economy.
AmCham Tax and Customs Committee’s July Meeting
On July 27, 2021, AmCham Tax and Customs Committee hosted its monthly meeting. The meeting was dedicated to the Off-site (Cameral) Tax Audits.Guest speaker of the meeting was Tax Senior of Deloitte Azerbaijan Mr. Rashad Abdurahmanli.Mr. Jeyhun Mammadov, Tax & Customs Committee Chairperson welcomed participants with an opening speech and introduced the guest speaker. He briefly touched upon the results of survey on off-site tax audit issues among the AmCham member companies.Afterwards, Mr. Rashad Abdurahmanli started his speech expressing his gratitude to AmCham Azerbaijan and participants of the meeting. He delivered a comprehensive presentation on existing issues with cameral audits. The meeting was followed by participants’ engagement in an open dialogue, where all the questions of the participants were addressed by Mr. Abdurahmanli, as well as AmCham Tax and Customs Committee Chair person and deputies. At the end, participants expressed their gratitude to the guest speaker.
AmCham Members' June Luncheon
On June 18, 2021, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) hosted its monthly members’ luncheon. The honorable Guest Speaker of this month was Mr. Himalay Mamishov, Chairman of the Board of the State Social Protection Fund (SSPF) under the Ministry of Labor and Social Protection of Population of the Republic of Azerbaijan. Opening the event, Executive Director of AmCham Azerbaijan, Ms. Gulnara Aslanbayli welcomed SSPF leadership and AmCham member companies in the first AmCham In-Person Luncheon after a long break. Ms. Aslanbayli emphasized sustained activity of AmCham Azerbaijan on continuing supporting and promoting the interests of foreign and local businesses in Azerbaijan, as well as significance of the established fruitful dialogue and successful cooperation with government institutions in this direction.The event also featured presentations on the activities and services of several member companies.Afterwards, Chairman of the Board of the State Social Protection Fund, Mr. Himalay Mamishov, expressed his gratitude to AmCham Azerbaijan and participants of the luncheon for the opportunity provided in establishing constructive discussion on further development and improvement of social insurance in Azerbaijan. He delivered a comprehensive information on the work carried out to strengthen social insurance system of the population, as well as future plans. Mr. Mamishov informed the participants on the goals and activities of the State Social Protection Fund aimed to strengthen capacity of SSPF in maintaining transparency and further improving efficiency of the social insurance and pension provision systems in Azerbaijan. Moreover, he noted the significant progress achieved in the implementation of modern innovations in the field of social protection and social insurance in the country. In conclusion, all the questions and comments of the participants were addressed by Mr. Himalay Mamishov. At the end of the luncheon, Mr. Nuran Kerimov, President of AmCham Azerbaijan thanked the guest speaker and all the participants for their involvement in the event. Around hundred AmCham members and partners attended the event, including high-ranked State Officials and representatives of diplomatic corps.AmCham Azerbaijan Members’ Luncheons are organized monthly by the Chamber and feature participation of high ranked government officials, member companies and representatives of diplomatic corps.
AmCham Presented Subsequent Publication of its White Paper to the Public
On June 11,2021 American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) organized a press-conference for publicly presenting subsequent publication of its White Paper on observations and recommendations for improving Azerbaijan’s business climate. Members of AmCham Board of Directors, Committee chairpersons, State Officials, AmCham members and media representatives attended the press-conference.The White Paper is being prepared and presented to Azerbaijan government biannually in the aim of supporting various fields of Azerbaijan’s economy.The document reflects collective view of AmCham members on changes contributing to the strength of business environment and ultimately, the country. It consists of two parts – “Introduction” part covering the issues reflected in the White Paper in general and “Recommendations” part which involves suggestions on more specific issues in detail. The recommendations reflected in previous years’ White Papers were added to state programs and some of the recommendations resulted in corresponding amendments in legislation which positively aspired business environment in Azerbaijan.“AmCham has always been actively cooperating with the government and supporting the implemented measures for improvement of business climate of the country. And we think it is very important to inform the government about vision of private sector and changes in business environment. White Paper 2021 will cover issues to be solved in different fields such as tax, customs, banking, finance, insurance, information and communications technology, procurement, labor, tourism, etc. It is noteworthy that the steps taken by the government to eliminate negative effects of pandemic to country’s economy have been commendable, and it is no coincidence that the measures taken have shown significant positive results. We believe that implementation of the recommendations prepared by AmCham members within the framework of this White Paper will contribute to economic reforms carried out in the country”, - noted Mr. Nuran Kerimov, the President of AmCham.Afterwards, the chairpersons of AmCham’s Committees on Tax and Customs, Human Resources and Labor, Digital Technology and Innovations, Legal and Compliance, Procurement and others spoke in detail about the recommendations of the White Paper in relevant topics. To get familiarized with the White paper, follow the link AmCham White Paper 2021The event was concluded with a Q&A session.AmCham has been operating in Azerbaijan since 1996 and currently consists of 250 companies representing more than 80% of foreign investments in the country. Serving as a bridge between government and private sector and having continuous constructive and result-oriented dialogue with relevant government bodies, Chamber promotes the business interests of its members and contributes to the improvement of the business climate in Azerbaijan.
AmCham Azerbaijan becomes a UNGC signatory
American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) is pleased to announce that it has become a United Nations Global Compact (UNGC) signatory since March 1, 2021. UNGC is a bold initiative designed to redirect business values towards working for the greater good. Its purpose is to help businesses transform their strategy in order to accommodate for the rising need in the implementation of sustainability practices around the world. With more than 12,700 members based in 160 countries, UNGC promotes ten essential sustainability principles across four domains in order to cultivate a better a world:Human RightsLabor Environment Anti-CorruptionWe commit ourselves to adhere to our recently adopted Sustainability Policy developed based on the UNGC principles and perceive this initiative as a step forward towards its implementation. While we are working on several initiatives to embrace our commitments, we as AmCham Azerbaijan are also ready to support our member companies and other local businesses in this journey towards adopting essential values of responsible governance and become a UNGC signatory. Either it is from the administrative or advisory point of view, we are determined to provide all necessary assistance to local sustainability pioneers to join the ranks of UNGC signatories.We believe, this is a big leap towards strengthening the presence of sustainability practices in Azerbaijan and will significantly contribute to the long-term value creation across all business sectors of the country. Powered by Froala Editor
AmCham Members’ Online March Luncheon
On March 15, 2021 the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) hosted its monthly Members’ Online Luncheon.The honorable guest speaker of this month was Mr. Valeh F. Alasgarov, Chairman of the Board of Directors, Alat Free Economic Zone Authority (AFEZA).The meeting was attended by leadership of AmCham Azerbaijan, member companies and representatives of diplomatic corps. President of AmCham Azerbaijan, Mr. Nuran Karimov welcomed the participants with an opening speech and introduced the guest speaker.Mr. Valeh Alasgarov delivered a wide information on Alat Free Economic Zone (AFEZ) project, elaborating on key role of AFEZA in transforming Azerbaijan into a knowledge-based and internationally competitive economy. He also talked about legal basis and framework of AFEZ, emphasizing their distinction from other international models. Furthermore, Mr. Alasgarov defined major types of investors welcomed at AFEZ, physical development of the area, as well as fiscal and non-fiscal incentives that will be available for clients and investors.In conclusion, all the questions and comments of the participants were addressed by Mr. Valeh Alasgarov.At the end of the luncheon, Mr. Nuran Kerimov thanked everyone for participation and highlighted particular importance of the event in terms of sharing experience and discussing prospects for future cooperation between AMCHAM and AFEZA.Powered by Froala Editor