Tax changes to improve business environment
By Nigar Abbasova
The recent amendments made to the Tax Code of Azerbaijan are expected to improve the business climate in the country. Taxes Minister Fazil Mammadov said that the key element of the changes is the creation of favorable business environment.
The minister, in his article published on the official press, mentioned that tax authorities are interested in the increase of tax revenues.
“However, the key element of our tax policy is the creation of a favorable business climate in the country, orientation of the tax policy on the economic development of businesses, as well as compliance to the interests of entrepreneurs and citizens of the country.”
The changes are aimed at the provision of favorable conditions for the development of small and middle scale businesses, increase in the level of mutual trust between tax authorities and entrepreneurs, the increase of non-cash operations, regulation of money turnover, promotion of export and establishment of a transparent registration system.
He also mentioned that the changes are developed in cooperation with different international organizations and on the basis of the international experience.
In tote, some 201 changes, including 115 new and 3 cancelled articles, and 83 amendments were made to the document. Some 123 articles cover the improvement of tax administration, 34 with the expansion of rights of taxpayers, while some 8 articles cover the reduction of tax burden, tax concessions and exemption from taxes.
Doing Business 2017 placed Azerbaijan 65th among 190 countries in the global rankings on the Ease of Doing Business, ranking the country among 29 countries that implemented three or more reforms.
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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova
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