Minister: E-audits in Azerbaijan to reduce field tax audits
Azerbaijan, Baku, April 14 / Trend N.Ismayilova /
E-audits in Azerbaijan will contribute to reducing field tax audits, Tax Minister Fazil Mammadov said at a press conference.
"Today, field tax audits are carried out in respect to five percent of taxpayers. We believe this project will allow us to significantly reduce this percentage and to perform audits from tax service offices," Mammadov said.
He said large companies have the possibility to switch to e-audits, as they are already accounting in accordance with International Financial Reporting Standards, or are similarly in the process of making a transition to these standards.
" Azerbaijani banks are also ready. In the future, it will be possible for medium-sized businesses, too. Is important to increase transparency and reduce direct contact between tax authorities and taxpayers," he said.
Baku hosted a presentation of a twinning project to support the Tax Ministry in creating e-audits today with the European Commission.
The project is funded by the European Commission. The contract is worth 1 million euro.
The project has six components - creating a legal framework to implement e-audits, choosing software, an e-audit database, training methodology and training auditors, introducing e-practice accounting for medium and large enterprises, and introducing e-audits in Azerbaijan.
Each component will be introduced by international experts.