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Minister: Tax legislation in Azerbaijan creates equal conditions for all

Business Materials 11 February 2011 14:28 (UTC +04:00)
With the introduction of a single treasury account for the accumulation of VAT three years ago in Azerbaijan, the total revenues for this type of tax have doubled, Tax Minister Fazil Mammadov said at an event on tax reforms that serve economic development on Friday dedicated to the tax service employees’ professional holiday.
Minister: Tax legislation in Azerbaijan creates equal conditions for all

Azerbaijan, Baku, Feb.11 / Trend N. Ismayilova /

With the introduction of a single treasury account for the accumulation of VAT three years ago in Azerbaijan, the total revenues for this type of tax have doubled, Tax Minister Fazil Mammadov said at an event on tax reforms that serve economic development on Friday dedicated to the tax service employees' professional holiday. 

"As a result of the measures that have been taken, 99.9 percent of VAT payers last year submitted reports in an electronic form, while in general the figure hit 82.6 percent for all types of taxes," Mammadov said.

According to him, tax legislation creates equal conditions for all taxpayers, and does not allow discrimination.

"The acceptable conditions for economic activity in the country are supported by the investment level. Last year, $15.5 billion was invested in the Azerbaijani economy," Mammadov said. "The share of domestic investments in the total increased, while investments in the non-oil sector exceed investments the in oil sector. "

According to Mammadov, this was the main condition for the diversification of economy and maintaining its stability.

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