The amount of tax and customs exemptions in Azerbaijan is quite substantial, Finance Minister Sahil Babayev said at a joint meeting of the Milli Majlis committees on Legal Policy and State Building; Defense, Security and Combating Corruption; Human Rights; and Regional Affairs, APA reports.
The minister stated that all tax and other exemptions are assessed in accordance with a methodology approved by the government.
"For this purpose, the Ministry of Finance has established a dedicated portal. Through this portal, the fiscal and economic impacts of exemptions are assessed based on various parameters. The results are consolidated and submitted to the Cabinet of Ministers, along with an opinion on the appropriateness of the exemptions."
Sahil Babayev noted that the amount of both tax and customs exemptions in Azerbaijan is substantial.
"The main objective here is to develop the economy and the real sector and to support businesses and entrepreneurship. Therefore, we always favor exemptions being granted for a limited period."
The minister emphasized that when exemptions expire, the issue of their extension is reconsidered, and the results of the exemptions applied during the previous period are evaluated.
He added that exemptions are not determined solely on the basis of economic criteria. A significant proportion of these decisions are made to implement social policies and protect vulnerable groups.
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