Azerbaijan prepares new Tax Code

17:40 - 15.02.2024

February 15, Fineko/ Since this year, work has begun in Azerbaijan over the new Tax Code, ABC.AZ reports, quoting State Tax Service’s deputy head Samira Musayeva.

"To this end, we are conducting a joint review with business entities. The new code is not only about simplifying the language. We will also analyze the legislation once again. We are currently developing a roadmap for the Code. We hold meetings with business entities on a regular basis. We study international experience ourselves and involve consulting companies. It is too early to say when the new Code will be ready. But we’ve started the process and do not want to delay its completion for many years. It would be frivolous to just say when it will be ready without finalizing the roadmap of the code," she noted.

Musayeva also drew attention to the issue of VAT differentiation raised last year:

"At Milli Majlis, we’ve repeatedly said that the issue of differentiation, on the one hand, may seem like a positive step. But we have an alternative to it — the VAT refund project. We are currently considering how we can stimulate this direction. The administration of this project is more manageable and more convenient in terms of preventing abuse. But again, we do not deny that there may be a differential degree. It's just that this issue is not on our agenda today. When we put this on agenda, we’ll consider what products and prices will be available. But I’d like to note once again that we apply this in a different form, that is, in the form of the VAT refund project.

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