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Number of financial sanctions from Azerbaijani tax authorities decreases

19 February 2019 18:49 (UTC+04:00)
Number of financial sanctions from Azerbaijani tax authorities decreases

By Trend

In 2018, as part of the implementation of tax control in Azerbaijan, individuals and legal entities were imposed tax sanctions worth 20.8 million manats, Trend reports with reference to the report by the Ministry of Taxes.

In just one year, tax authorities conducted 15,600 tax control operations. For comparison: in 2017, financial sanctions worth 22.67 million manats were imposed following 16,690 inspections.

Last year, financial sanctions for violation of non-cash settlement rules averaged 59,000 manats (1,230 manats in 2017), while financial sanctions for violation of the rules of cash settlements with the population averaged 410 manats (350 manats in 2017), and financial sanctions for not keeping records of goods and money averaged 3,870 manats (2,520 manats in 2017).

An increase in the value of the accrued financial sanctions is related to the improvement of measures to identify taxpayers subject to a tax audit, according to the report.

For example, if in 2017, the tax authorities implemented 611 tax control operations and imposed sanctions worth 749,900 manats for violation of non-cash settlement rules, in 2018, only 66 operations were implemented, and sanctions worth 3.89 million manats were imposed.

During 2018, the tax authorities conducted 1,707 outreach checks, which is 3.3 times less than in 2017 (5,778 outreach checks).

(1.7 AZN = 1 USD on Feb. 19)

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