IFC: Azerbaijan saved $23m after easing registration of businesses
The application of the "single-window" registration of businesses in Azerbaijan has allowed the country’s private sector to save more than $23 million on registration procedures, International Finance Corporation (IFC) representative in Azerbaijan Aliya Azimova said.
Addressing a forum, "Tax System of Azerbaijan: realities and perspectives", in Baku on Thursday, she said the key area of cooperation between the Ministry of Taxes and the IFC, which began in 2007, is to simplify entrepreneurship registration.
"As a result of these reforms, business registration increased by 30 percent in the first 18 months," Azimova said.
The business registration system through the "single window" was launched in Azerbaijan in 2008.
The use of the "single-window" principle has increased the efficiency and transparency of state governance in this sphere, she said.
American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) Vice President Alum Bati said one of the main conditions for successful fiscal policy is to strengthen the ties between public associations of entrepreneurs and tax bodies.
"In this regard, the Azerbaijani Ministry of Taxes is working quite well," Bati said.
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