According to recent reports, Azerbaijan has amended its controlled foreign company rules with an increase in the effective corporate tax threshold from 50% to 75% of the Azerbaijan tax that would be payable. As such, foreign companies will be recognized as a CFC of an Azerbaijan resident company if:
- The resident, together with associated companies, directly or indirectly holds a participation of more than 50% in the foreign company's capital, voting rights, or rights to profits;
- The effectiv…