Veyseloglu Group comments on introduction of financial sanctions by Ministry of Taxes of Azerbaijan

Veyseloglu Group comments on introduction of financial sanctions by Ministry of Taxes of Azerbaijan

Baku, Azerbaijan, March 21

Trend:

Veyseloglu Group commentsed on the introduction of financial sanctions by the Ministry of Taxes of Azerbaijan, Trend reported citing company.

"The country's press has circulated the information that the Ministry of Taxes imposed a fine on Veysaloglu. In this regard, we would like to state that at the end of the last year operative tax inspections of goods that are subject to mandatory labelling with excise marks, employees' labor contracts and cash management checks were held in all companies, belonging to Veyseloglu Group of Companies. However, no discrepancies in the activities of our company were detected in the areas of inspection. Thus, all labour contracts of our employees, all the warehouse stock records of our companies, as well as all the records on the goods that are subject to mandatory labelling with excise marks and cash circulation were in order," said in the message.

Noted that during the inspection, all inquiries and questions arising from tax officers were timely responded and relevant documents were submitted.

"Even during inspection and post-inspection periods, tax officers have repeatedly voiced positive feedback on our tax records compliance with the legislation and have cited us as a good example to other companies under inspection. The main reason for this was the fact that we responsibly reacted to minister's call for declaration of 2018 as a transition year to transparency and made serious efforts in this direction.

However at the beginning of 2019, our company was fined. Our company did not accept this unfounded penalty and for this reason immediately appealed to the Ministry of Taxes. At the same time, we provided all the tax records that prove that the penalty was unfounded. At present, our objections are being investigated by the Ministry of Taxes. We hope that in the near future the Ministry of Taxes will confirm our rightness and will make a fair decision.

The cases of sales tax evasion that are included in the article does not reflect the truth. During the inspection carried out in this direction, all the necessary documents required by the tax authorities were presented and the facts of sales tax evasion were not revealed," said in the message.

According to the statement we would like to state that our company welcomes and fully supports all steps taken by the relevant government agencies to transparency. "Today, our group of companies is continuing its activity in this direction.

Veysaloglu has always supported the tax policy of our country during long years of its existence and cooperated with the tax authorities within the framework of the legislation," said in the message.

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