Azerbaijan, Baku, June 19 / Trend, A. Akhundov /
The Ministry of Taxes of Azerbaijan will continue to adhere to a policy of reducing the tax burden on the private sector.
This was stated in an interview of the Deputy Minister Natig Amirov, published in the journal Impact Azerbaijan. The journal is published by the American Chamber of Commerce in Azerbaijan (AmCham).
"The global financial crisis has fundamentally changed the fiscal model of many countries. For example, the European countries facing a financial crisis increased the tax burden, resorted to the elimination of benefits in many areas, and increased indirect and consumer taxes. At the same time, in order to insure against the anticipated next wave of the crisis, Europe is trying to adopt a special tax and to create financial reserves for a future crisis. During the period of the last financial crisis, the state, in order to maintain domestic markets, increased the volume of its investments, continued crediting the private sector, and made changes to the legislation for reducing the tax burden," Amirov said.
According to him, the amendments to the Tax Code, which came into force this year, are the most serious in the last three years and are aimed at reducing the tax burden, and this policy will continue in the future.