MP: Weighted tax policy allows Azerbaijan to successfully meet global challenges

Photo: MP: Weighted tax policy allows Azerbaijan to successfully meet global challenges / Business News

Baku, Azerbaijan, Feb.7
By Emin Aliyev - Trend:

The weighted tax policy, as well as the economic policy pursued by Azerbaijan has allowed the country to successfully meet global challenges, head of the Economic Policy Committee of the country's Milli Mejlis (Parliament) Ziyad Samadzadeh said at the third Tax Forum in Baku entitled 'Azerbaijani tax system: Realities and Prospects'.

"The tax policy is the integral part of any country's activity and it is an objective necessity.

The formation of a tax system in Azerbaijan was carried out in hard times. Now it is all over and thanks to the economic strategy founded by national leader Heydar Aliyev, today Azerbaijan is one of the most dynamically developing countries," the MP said.

One of the main directions of the active tax policy is the support given to the private sector and increase of income by growing the number of tax payers, according to Samadzadeh.

"If to give illustrative examples, recently under the country's president's decree, kindergartens were exempt from income tax for 10 years. This shows that the private sector should pay attention to this sphere. The shortage of preschools has been observed in Azerbaijan for decades and the stimulation of the private sector can resolve this problem. Similar measures of stimulation should be taken in other spheres too," Samadzadeh added.

Some 72,984 tax payers were registered in Azerbaijan in 2013 and around 42.2 percent of them were registered though electronic registration.

The total number of tax payers as of Jan.1, 2014, is 537 828.

The tax forum opened in Baku on Feb.6.

Translated by L.Z.

Edited by S.M.

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