Baku, Azerbaijan, Feb. 13
By Anvar Mammadov - Trend:
The Taxes Ministry of Azerbaijan is developing a new package of amendments to the Tax Code, Azerbaijani Minister of Taxes Mikayil Jabbarov said at the conference "Taxes: Transparency: Development" in Baku Feb. 13.
He said that a package of changes to the Tax Code will help solve key problems in the tax administration that entrepreneurs face.
"This package will be submitted to the government for consideration as part of the process of forming the 2019 state budget. The main attention will be paid to reducing the share of the shadow economy and encouraging the transition to a legal economy. We intend to ensure this transformation so that it become favorable for entrepreneurs. We are ready to cooperate both with businessmen, and with the government and parliament to develop the changes," the minister said.
The minister noted that changes in economic policy require appropriate changes to the Tax Code, but frequent changes complicate the planning process for entrepreneurs, and additives can lead to unplanned tax risks.
"We consider it undesirable to amend the Tax Code every year, several times a year. Since the Tax Code entered into force, 680 articles and 1,548 items have been amended. This reflect the lack of a systematic approach and allow to achieve only short-term goals. Such goals should not prevail over more global tasks such as creating a favorable business environment and attracting foreign investments to Azerbaijan. The business likes stability and face difficulties in adapting to annual changes, "Jabbarov said.
The minister said it is necessary to ensure the stability of the legislation and direct it to support the entrepreneurship development.
First of all, according to Jabbarov, it is necessary to monitor the tax legislation, assess the effectiveness of the existing system of preferences and the possibilities for further improving the tax system.