Azerbaijan defines priorities of tax system development

Economy Materials 10 February 2016 11:16 (UTC +04:00)

Baku, Azerbaijan, Feb. 10

By Azad Hasanli - Trend:

At present, the main priorities of Azerbaijan's tax system development is to improve the investment business environment, broaden the tax base and develop tax accounting, head of the Tax Department No.1 of Azerbaijan Natig Shirinov said.

He made the remarks Feb. 10 on the fifth Tax Forum themed "Azerbaijani tax system: Realities and Prospects".

Speaking about the need to broaden the tax base, Shirinov at the same time stressed the importance of continuous monitoring of the process of preferential exemption from taxes.

He said that if the existing benefits don't help to stimulate economy, it's necessary to cancel them and introduce the new ones.

"It is also very important to introduce taxation of e-commerce and stimulate non-cash payments, and this will help to increase tax revenues to the state budget in the future," said the head of the department.

Shirinov also touched upon the improvement of tax accounting.

He said that entrepreneurs should be responsible and fully pay taxes, but it's necessary to improve tax accounting for that.

"Work in this direction has been underway for several years, and this work is likely to be completed in the near future," he said. "Introduction of e-accounting should be noted among the measures to improve tax accounting. Unfortunately, taxpayers often keep tax accounting incorrectly, so it's necessary to ensure transparency in this sphere. In addition, by expanding e-audit in the future, we will help taxpayers to save time."