Potential of e-commerce in Azerbaijan is much higher than existing volume
Azerbaijan, Shamakha, June 21 /Trend A.Akhundov/
The monthly turnover of e-commerce in Azerbaijan can exceed half a billion manat, founder of Golden Pay Company Farid Ismailzade said at a seminar on 'Growth in non-cash payments and use of POS-terminals' on Thursday.
"Today, the monthly turnover of electronic commerce in the country stands at two million manat. The population is mainly interested in the purchase of equipment and other goods, payment of utility structures, mobile operators, ISPs and so on through the Internet," Ismailzade said.
He said a tax holiday for a specified period, for example five years which is widely used in the world, can promote development of this sector and the growth of e-commerce turnover
"In addition, there are some voids in the legislation governing this area. We are together with the ministries of economic development, communications and information technology and are preparing proposals to address them," Ismailzade said.
Head of the main department of Tax Policy & Strategic Studies of the Ministry of Taxes Akif Musayev said the state is ready to take the necessary steps for the development of electronic commerce in the country.
"The share of electronic commerce in general turnover in the world is large, for example, it is at the level of 67 per cent in Germany. In Azerbaijan, these figures are less, but this area is developing. The issues of informing and educating people are important," Musayev said.
Official exchange rate on June 21 is 0.7857 AZN/USD