Azernews.Az

By Trend

Measures to combat the shadow economy in Azerbaijan will expand the possibilities for financing the development of human capital, Advisor to Azerbaijan’s Minister for Taxes Khagani Abdullayev said in Baku at the Human Capital Forum Dec. 19, Trend reports.

He reminded that the proposals that the Ministry of Taxes submitted to the government include various measures to combat the shadow economy. The implementation of these measures will at least allow minimizing the huge negative impact of the shadow economy on the state budget, he said.

The global experience shows that tax policy primarily supports the mechanism for encouraging investments in human capital, he added.

In this direction, there are relevant articles in the country’s Tax Code, he said. As an example, he mentioned the exemption from income tax of educational institutions for people with disabilities.

In 2019, such benefits and exemptions will be expanded, he said.