Azerbaijan to present new edition of Tax Code by end of 2023

Economy Materials 10 February 2023 17:56 (UTC +04:00)
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, February 10. The State Tax Service under the Ministry of Economy of Azerbaijan has prepared a new development strategy, the service’s Head Orkhan Nazarli said at the "Heydar Aliyev and Azerbaijan's tax system: to new challenges" event, Trend reports.

According to Nazarli, within the framework of this strategy, a new edition of the Tax Code is expected to be presented by the end of 2023.

Over 15.5 billion manat ($9.12 billion) was transferred to the state budget of Azerbaijan through the State Tax Service, and the fiscal revenues totaled 21.1 billion manat ($12.4 billion) in 2022.

Tax Code of Azerbaijan is the primary tax law in the country. The code establishes general principles of taxation In Azerbaijan, sets the rules for determining, payment and collection of taxes, identifies the rights and responsibilities of taxpayers and tax authorities, as well as the liabilities for violation of tax legislation.

The code was adopted on July 11, 2000 and entered into force in January 2001. It consists of 17 chapters and 221 articles.