On 17 March 2023, Azerbaijan's State Tax Service issued a release announcing that the country has begun implementing its obligations as a BEPS Inclusive Framework member, including that domestic procedures are underway to sign the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). After Azerbaijan signs and ratifies the BEPS MLI and deposits its ratification instrument, the MLI will apply to Azerbaijan's notified covered agreements (tax treaties), provided that a particular agreement has also been notified as covered by the respective counterparty, and such counterparty has also deposited its MLI ratification instrument.

In addition to the MLI, the release also notes that Azerbaijan has already implemented measures regarding transfer pricing and CFCs and is a signatory to the multilateral CbC report exchange agreement.