TODAY.AZ / Business

Companies in Azerbaijan understate turnover by hundreds of millions – minister

18 February 2019 [14:15] - TODAY.AZ

By  Trend

Elimination of shadow economy in Azerbaijan will be one of the priorities that will be given special attention in 2019, Azerbaijani Tax Minister Mikail Jabbarov said at the forum “Taxes, Transparency and Development” Feb. 18, Trend reports.

He said that last year, understatement of turnover totaling 930 million manats were revealed in major wholesale enterprises, 122 million manats in market chains and more than 230 million manats in private medical institutions of Azerbaijan.

“Our primary function is to identify all such facts and bring the enterprises to taxation,” the minister said.

The shadow economy contributes to the emergence of various negative factors, he noted.

“Despite that tangible results were achieved in the fight against this problem, we must continue measures in this direction,” he added. “For this reason, reduction of the shadow economy in 2018 was the priority direction for tax services. Entrepreneurs were given time so that they renew their accounting, extensive educational work was carried out. Control over some sectors was also increased, for example, in the sale of goods, in the medical services sector and in shopping center chains.”

In 2018, major changes occurred in the activity of the tax authorities, the minister said. The structure of the tax authorities was reformed, dramatic changes were made in the personnel section and negative points that occurred earlier were eliminated, he noted.

“In order to eliminate the problems faced by taxpayers, an appeal system was created,” he said. “We tried to create horizontal cooperation with the business, and the main approach is that the tax authorities improve relations with entrepreneurs from scratch. We stand for building clear and transparent relationships with entrepreneurs. We are sure that entrepreneurs also share this opinion.”


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