Vusal Gasimli: Capital and property amnesty is possible in Azerbaijan


April 7, Fineko/abc.az. Azerbaijan is considering the matter of the use of amnesty for capital and property.

ABC.AZ reports that the relevant statement was made by Vusal Gasimli, the executive director of the Center for Analysis of Economic Reforms & Communications.

He noted that the purpose of that is economic growth and expansion of financial resources of investments:

"There were elements of amnesty in Azerbaijan's economic policy before. The Law on the Regulation of Taxpayers' Tax Arrears, effective from 1 January 2017, approved by President Ilham Aliyev, could actually be adopted as a tax amnesty to a certain extent. The debts on interests and financial sanctions were written off by this law. Various types of amnesty, both successful and unsuccessful, can be found in the world practice. In Russia, EUR 10 bn have been declared within two amnesties announced since 2015, and the results of the third amnesty, which ended in March this year, have not yet been announced. The revenue and capital amnesty was carried out five times in India, four times in Portugal, and twice each in France, Austria, and Ireland. The expectations of amnesties of capital, property, taxes and income that are applied all over the world are justified at different levels."