(MENAFN- AzerNews) Azerbaijan has proposed the establishment of Tax Centers in various countries of the Intra-European Organization of Tax Administrations (IOTA) to enhance cooperation and operational efficiency.

Azernews reports that Orkhan Nazarli, Head of the State Tax Service (STS) under the Ministry of Economy, shared this initiative in an interview with IOTA's official website.

Notably, Nazarli is set to assume the presidency of IOTA in June 2025. He emphasized that his tenure will focus on strengthening IOTA's financial stability, expanding its geographical scope, and optimizing operations:

"For this purpose, a number of strategic proposals have been put forward and are currently being evaluated by the relevant IOTA Working Groups."

Nazarli outlined several key measures for IOTA's financial sustainability, including a fair methodology for calculating membership fees, efficient use of resources, and exploring investment opportunities.

"To increase the global impact of the organization, it is planned to attract new full and associate members. In addition, it is proposed to amend the IOTA Charter so that associate members can apply for full membership after being in this status for at least two years."

Additionally, the Azerbaijani official highlighted plans to enhance IOTA's activities through closer cooperation with research institutions, the creation of a Tax Academy, and a strategic partnership with the Organization for Economic Cooperation and Development (OECD), which already manages a network of Multilateral Tax Centers (MTCs) worldwide.

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