BAKU, Azerbaijan, September 16. The key priorities for revenue policy to be implemented in 2027 are aimed at accelerating the country’s economic development, strengthening competitiveness, and making the investment environment more attractive.
This is reflected in the Statement on the Initial Indicators of the State and Consolidated Budgets for 2027 released by Azerbaijan’s Ministry of Finance.
The statement said that these measures include applying more flexible approaches to tax debt management and strengthening voluntary payment discipline, supporting entrepreneurship and promoting investment in strategic sectors, as well as improving tax and customs administration mechanisms.
Taking the above into account, the main priorities of revenue policy for 2027 are as follows:
“Promoting business activity, investment and broadening the tax base: One of the key priorities of tax policy is to create a more favorable and predictable business environment, strengthen mechanisms supporting the development of the real sector, and promote investment activity. In this regard, extending the validity of tax incentives and exemptions whose terms are expiring, as well as introducing new results-oriented incentives to support the development of the non-oil sector, are envisaged.
Further improvement of tax administration and control mechanisms: One of the key priorities in ensuring sustainable tax revenues is broadening the tax base and more accurately identifying taxable objects. In this regard, stronger oversight of accounting, reporting and payment discipline is envisaged.
Simplifying tax debt deferral mechanisms and introducing incentives: One of the key priorities in tax debt management is simplifying debt settlement mechanisms, applying more flexible approaches for taxpayers, and strengthening voluntary payment discipline. In this regard, improvements to procedures for granting deferrals on tax debts, the introduction of more favorable mechanisms for taxpayers facing payment difficulties but continuing their economic activities, as well as consideration of the possibility of applying relief on financial penalties and late-payment interest under certain conditions, are envisaged,” the statement said.
