Azerbaijan discusses roadmaps on Business Entry and Taxation with WB assistance (PHOTO)

Economy Materials 22 May 2024 13:03 (UTC +04:00)
Azerbaijan discusses roadmaps on Business Entry and Taxation with WB assistance (PHOTO)
Lada Yevgrashina
Lada Yevgrashina
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BAKU, Azerbaijan, May 22. The Ministry of Economy of Azerbaijan is hosting a presentation of roadmaps for 2024 on the topics of “Entry into Business” and “Taxation” of the “Business Readiness” project, which Azerbaijan is implementing with the World Bank (WB), Trend reports.

Representatives of the State Tax Service under the Ministry of Economy, Ministry of Justice, Ministry of Finance, Ministry of Foreign Affairs, Ministry of Labor and Social Protection, State Statistics Committee, Central Bank, Small and Medium Business Development Agency (KOBİA), and other structures are participating in the discussions.

Meanwhile, reports were made by the head of the working group “Taxes and reporting”, deputy head of the State Tax Service Ilkin Valiyev, and the head of the working group “Entry into business”, deputy head of the State Tax Service Samira Musayeva, head of the sector of the Presidential Administration of the Republic of Azerbaijan, and head of the secretariat of the Commission on Business Environment and International Ratings, Vusal Shikhaliyev (who presented the work on the World Bank's project “Business Ready”).

Particularly, Shikhaliyev noted that this project with the WB is based on such components as the functionality of business areas in the country and business rules affecting the development of the private sector as a whole.

“The project covered two important areas - the indicators ‘Entry into Business’ and ‘Taxation’, and two-year roadmaps have been implemented in these areas over the past period,” he explained.

According to him, the new road maps, approved for 2024, will include raising the existing processes to a higher level, implementing several innovations, and finalizing regulatory and technical processes.

Deputy Head of the State Tax Service and Head of the “Entry into Business” working group, Samira Musayeva, gave general information to the meeting participants about the “Entry into Business” roadmap, its sub-indicators, and its components, as well as spoke about the reforms carried out in the sphere of state registration of commercial legal entities.

She mentioned that draft amendments to the laws “On Amendments to the Labor Code of the Republic of Azerbaijan and the Civil Code of the Republic of Azerbaijan” and “On Amendments to the Code of Administrative Offences of the Republic of Azerbaijan” have been submitted to the Azerbaijani Parliament for consideration.

“As a result of the work carried out, technical possibilities for electronic regulation of commercial legal entities' information have been created, electronic signature ‘SIMA’ has started to be successfully applied in online registration of commercial legal entities, and information resources have been improved,” Musayeva added.

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