Azeri minister opposes tax cuts
Azerbaijan’s Minister of Taxes Fazil Mammadov said in parliament Thursday that discussions on lowering taxes would be "out of place" and there is no heavy tax burden in the country.
The central bank’s chairman, Elman Rustamov, offered to reduce taxes during the discussions on the 2012 draft state budget in the Milli Majlis on Wednesday.
"Azerbaijan is not a free economic zone and approaches such measures with more caution and attention," Minister Mammadov said.
According to the minister, social security tax in Azerbaijan is 21.5 percent, including allocations for social purposes, and 17.5 percent without such allocations. In European Union countries, the figure is 39.5 percent.
In Azerbaijan, earnings of up to 2,000 manats per month (around $2,560) are subject to 14 percent tax, while those exceeding the amount - 35 percent.
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