Baku hosts forum on taxes (UPDATE)

Economy Materials 10 February 2016 11:20 (UTC +04:00)

Details added (first version posted 10:35)

Baku, Azerbaijan, Feb. 10


The Tax Forum themed "Azerbaijani tax system: Realities and Prospects" dedicated to the 15th anniversary of the establishment of the Taxes Ministry in Azerbaijan has kicked off in Baku.

Representatives of the Presidential Administration, Milli Majlis (Parliament of Azerbaijan), Cabinet of Ministers and other state bodies of the country, representatives of the relevant structures of the National Academy of Sciences, the World Bank, local banks, non-governmental organizations, associations of entrepreneurs and businessmen are taking part in the forum.

Speaking at the forum, Azerbaijan's Deputy Taxes Minister Sahib Alakbarov said that despite sharp decline in energy prices, Azerbaijan's GDP in 2015 grew by more than one percent, while the non-oil sector grew by 8.4 percent.

"In 2015, the country's economy received nearly $20 billion of investment, half of which are foreign ones," he said.