Finance

Finance

Azerbaijan hosts 19th meeting of CIS heads of tax services coordination council - PHOTO

Azerbaijan hosts 19th meeting of CIS heads of tax services coordination council - <font color=red>PHOTO</font>

08 June 2012 10:56 (UTC +04:00)

According to APA-Economics, the authorized representatives of CIS Executive Committee and high-ranked officials of tax agencies of Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Ukraine, Latvia, Lithuania and Republic of Korea participate at the meeting.

Chairman of Coordination Council, head of Ukrainian State Tax Service Alexander Klimenko informed about activity during a year, stressed the importance of more development of cooperation.

Deputy Minister of Taxes Sahib Alekberov noted that, the links among the sides, and decision passed within agenda of the event would support development of cooperation.

Speaking about reforms in tax system of Azerbaijan Alekberov noted that, more successful projects on transition from planned economy to market relations were implemented during 20 years. Share of private sector in GDP exceeded 80%. More than $120 bln have been invested in economy, as well more than $50 bln â€“ invested in oil sector since 1995.

Alekberov also noted that, GDP and industrial production triled, poverty level decreased from 49% to 7.6%, more than 1,000,000 new work places were launched during past 8 years. According to him, â€œStandard&Poorâ€™sâ€, â€œFitchâ€ and â€œMoodyâ€™sâ€ international rating agencies appreciated the countryâ€™s financial rating repeatedly.

Speaking about works in information and communication sphere Alekberov informed about establishment of cosmic industry, successes in application of e-government and noted that, the countryâ€™s principal goal is to double the GDP.

Mai economic performances of tax agencies of participant countries, application of special tax regimes by small entrepreneurship subjects, simplifying of administrative procedure of property tax and other issues were discussed at the meeting.

Azerbaijan will be in the chair of the council for next 1 year.