Finance

Finance

EU twinning project seeks to streamline tax administration in Azerbaijan

14 February 2012 09:22 (UTC +04:00)

Baku. Victoria Dementyeva - APA-Economics. An EU-funded Twinning project is working with the Ministry of Taxes in Azerbaijan in an effort to streamline and improve the process of risk management and audit processes in the tax administration.

The project, Support to the Ministry of Taxes in the field of computer assisted audit system, held an event last week, which provided an opportunity to take stock of the â€œvery good cooperation" between the EU and the Ministry of Taxes in establishing a computer assisted audit system.

With a total budget of â‚¬1 million for 24 months, the purpose of the project is to improve the capacity, tools and efficiency of the Ministry of Taxes in the field of audit through the development and implementation of an electronic audit system.

The project has recommended legal changes for the functioning of e-audit in Azerbaijan from best legislation practices of the Netherlands, Germany and Austria. The main proposals for amendments aim at enabling the administration to obtain electronic access to relevant fiscal data of medium and large taxpayers, as well as ensuring a number of rights and obligations in the Tax Code. A draft on the legal basis on e-audit will be presented to Parliament in Azerbaijan in the course of this year.