Azerbaijan, Baku, Feb.9 /Trend N.Ismayilova/
Azerbaijan will increase the role of the tax system in support of policy innovation and the formation of the structure of the economy, Minister of Taxes Fazil Mammadov said at the forum 'Tax System in Azerbaijan: realities and perspectives', in Baku on Thursday.
"One of the important tasks assigned to us by the President of Azerbaijan Ilham Aliyev, is that the current state budget expenses paid through tax revenues and transfers from the State Oil Fund were directed only to finance large investment projects in the next few years," Mr Mamedov said
He added that a significant increase in the revenues of the state budget should be achieved in this regard.
"However, it should not be implemented by the tax burden increasing, but through increasing the rate of economic growth, the creation of partnerships with employers and use of tax administration and stimulating economic development" Mr Mamedov said.
He went on to say that there is great potential for involvement in taxation. The Ministry of Taxes has started research in order to apply tax control over transfer prices. It also supports the development of non-cash payments in the country.
"We believe that increasing the volume of non-cash payments is a major part of the significant expansion of the tax base and Azerbaijan must achieve that of the level of advanced countries in Europe in the near future, "he said.