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Azerbaijan not to harden tax administration on real estate

10 June 2013 09:46 (UTC +04:00)

To him, at present, in Azerbaijan, share of property tax in total tax revenues is less in comparison to other countries: ‘There are such countries, where tax revenues hit 40-50%. Italy, England and several other countries have achieved great successes in this sphere’.

Besides, deputy minister noted that the novelties in this sphere can have negative influence on property market: ‘If we apply it in Azerbaijan now, it may negatively impact on country’s property market. Property market has formed in Azerbaijan just now. Therefore, we should solve this issue slowly’.

‘Though some CIS countries tried to harden rules of involvement of property to tax, they couldn’t achieve any serious success: ‘Kazakhstan, Russia and other countries can be cited as examples’, said Alakbarov.