CESD Held Conference on Recommendations on
amendments to the Tax Code of the Azerbaijan
Republic.
Center for Economic and Social Development (CESD)
held Conference Recommendations on amendments to
the Tax Code of the Azerbaijan Republic with
participation of representatives of government
institutes, parliament members, international
organizations, NGOs, academies and mass-media on
April, 22, 2010.
On opening speech, Vugar Bayramov, chairman of
CESD, presented the Center’s findings and mainly
focused on policy recommendations for the Tax
Code of AR. It’s worthy to note that last year
CESD’s recommendation to lower profit tax from
22 to 20 % was accepted by Ministry of Taxes.
Some other CESD recommendations have already
been accepted by Ministry of Taxes and the
center is cooperating with them to improve
system. Dr. Bayramov explained why it is vital
to make these changes for better and efficient
taxation system. He mainly stated that new
amendments will give entrepreneurs more
incentive and it's really very effective tool
for fighting against financial crisis symptoms.
Parliament Member, Mr. Vahid Ahmadov welcomed
CESD policy recommendations and mentioned that
recommendations will be discussed in the
government. Mr. Ahmadov also added that it would
be better to estimate what will be the effect of
decreasing proposed tax rates on the state
budget. Since VAT is one of the sources of State
Budget Revenues, therefore, we should be careful
and precisely evaluate results of recommended
amendments before applying them.
Representatives of NGOs and scholars actively
participated in the discussions.
