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Azerbaijan needs tax reforms – int’l auditing company

Azerbaijan needs tax reforms – int’l auditing company

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Date: 4 December 2015 16:47

Baku, Azerbaijan, Dec. 4

Trend:

Azerbaijan needs to carry out a number of tax reforms to further improve its position in the Paying Taxes report, a partner of the PwC international auditing company in Azerbaijan Movlan Pashayev said.

He made the remarks Dec.4 at a press conference on the presentation of the Paying Taxes 2016 report prepared by the World Bank together with the PwC international auditing company.

“Many aspects of administration in the law need to be reformed,” he said. “There are three main points, one of which is tax audits.”

According to the report, Azerbaijan ranks second in Central Asia and Eastern Europe on the least number of taxes.

In total, there are seven kinds of taxes in Azerbaijan. Belarus, Kazakhstan, Macedonia and Russia share the second place with Azerbaijan. Leadership on this indicator in the region belongs to Georgia and Ukraine with five types of taxes each. Azerbaijan ranked fourth in the global rating.

Also, in Central Asia and Eastern Europe, Azerbaijan ranks eighth on the least amount of time required for payment of taxes (195 hours).

However, the authors of the report said that the tax burden in Azerbaijan (39.8 percent) is higher than in average in Central Asia and Eastern Europe (35.2 percent), but lower than the global index (40.8 percent).

Azerbaijan took the 34th place in the Paying Taxes 2016 ranking.

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