By Nigar Orujova
Azerbaijan Taxes Ministry was proposed offering tax relief or completely tax exemption to entrepreneurs in ICT, tourism and media sectors in the country.
Telman Aliyev, Executive Director of the Caspian European Club (CEIBC) made the proposal at the third Tax Forum titled "Azerbaijan's Tax System: Realities and Perspectives" on February 6.
Aliyev believes the Estonian model can be applied in Azerbaijan, according to which up to 10 percent of turnover is charged, exempting the company from any taxes.
Adviser to the Taxes Minister, Akif Musayev has said the Azerbaijani government provides considerable tax benefits.
The amount of benefits and privileges is equal to 30 percent of total tax revenues in the state budget, which is projected at 7.1 billion manats for 2014, he said. This policy will be continued in the future.
Meanwhile, Secretary General of the National Confederation of Entrepreneurs Natavan Mammadova proposed the ministry to quarterly hold trilateral meetings with representatives of businesses to jointly analyze results of these meetings.
Information technology, tourism and media are developing sectors in the country. Besides tax benefits to the tourism companies, at present, the country plans to provide tax benefits to entrepreneurs participating the high technology park, which is now under construction.