THE CONVENTION BETWEEN THE GOVERNMENT OF THE AZERBAIJAN REPUBLIC AND THE GOVERNMENT OF THE REPUBLIC ITALY

of July 21, 2004

About avoidance of double taxation concerning taxes on the income and property and prevention of tax avoidance

The government of the Azerbaijan Republic and the Government of the Republic Italy for the purpose of avoidance of double taxation concerning taxes on the income and property and prevention of tax avoidance agreed as follows:

Chapter I Convention Scope

Article 1. Persons to whom the Convention is applied

1. This Convention is applied to persons who are residents of one or both Contracting States.

Article 2. Taxes to which the Convention extends

1. This Convention, irrespective of method and method of the taxation, is applied to taxes on the income and on property, collectable by each of Contracting States, or their political, administrative, administrative and territorial units or regional authorities.

2. All taxes levied from the total amount of the income, total cost of property or from separate elements of the income or property including taxes on the income from alienation of personal or real estate, taxes levied from the total amount of the salary or salary paid by the companies and also the taxes levied from the income from property increase in value belong to taxes on the income and on property.

3. The convention, in particular, extends to the following the taxes operating in this time:

a) concerning the Azerbaijan Republic:

(i) income tax of legal entities;

(ii) income tax;

(iii) land tax;

(iv) property tax;

(further the referred to as "Azerbaijani taxes")

b) concerning the Republic Italy:

(i) income tax;

(ii) tax on the corporate income;

(iii) regional tax on productive activity irrespective of collection or not collection at source

(further the referred to as "Italian taxes").

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