aku, Azerbaijan, June 5
By Anvar Mammadov - Trend:
Currently, there are still problems with the provision of complete and transparent reporting in Azerbaijan, Minister of Taxes Mikayil Jabbarov said June 5 in his speech at the 4th EU-Azerbaijan Business Forum.
"If we conduct a survey here, then it will become clear that 60-70 percent of business representatives are registered as payers of value added tax (VAT). But according to the statistics of the Ministry of Taxes, the VAT payers account for just about 3 percent of all active taxpayers. As you know, according to the legislation of Azerbaijan, VAT payers are those whose annual turnover exceeds 200,000 manats. Here we face three problems - the concealment of wages, turnover and reporting. Reforms in the legislation will be aimed at solving these problems," Jabbarov said.
The minister noted that the reforms will be aimed not only at tightening the reporting regulations, but also at alleviating the tax burden.
"Our reforms will be aimed at tightening the reporting regulations, which in turn will be accompanied by a decrease in the tax burden. It is also expected that the tax burden for small and medium-sized businesses will be reduced," the minister said.
Jabbarov added that the ministry will continue to reduce the number of on-site inspections.
"According to the data for the end of April this year, we have already reduced them by 40 percent compared to the same period last year. I think all the measures taken will lead to a decrease in the share of the shadow economy," Jabbarov said.