The total amount of tax concessions and exemptions is expected to reach AZN 7.6 billion in 2027, or 5.4% of projected GDP, APA reports.
Deputy Chief of Staff of Azerbaijan's Ministry of Finance Asif Gasimov made the remarks at today's meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship.
Asif Gasimov noted that this is AZN 630 million, or 0.4 percentage points, more than the amount of exemptions expected by the end of 2026.
"For comparison, tax concessions account for 4.6% of GDP in Georgia, 4.5% in Türkiye and 4.7% in OECD countries. When broken down by the authorities responsible for ensuring budget revenues, tax-related concessions and exemptions amount to AZN 4.2 billion, or 9% more than this year, while those related to import operations amount to AZN 3.4 billion, or 11% more than this year.
In terms of distribution by economic sectors, the amount stands at AZN 436.0 million for the oil sector and AZN 7.1 billion for the non-oil sector. Both components are expected to increase by 9% compared with this year.
Finally, of the AZN 7.6 billion, AZN 4.4 billion falls under the category of concessions and AZN 3.2 billion under exemptions," he stated.
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