BAKU, Azerbaijan, May 6
By Sadraddin Aghjayev – Trend:
The Ministry of Finance of Azerbaijan has launched a centralized system of an electronic register of tax and customs benefits, predicting their impact on state revenues, Trend reports citing the ministry.
As reported, the system integrates the information systems of the State Tax Service and the State Customs Committee.
"This system was developed in line with the methodology for assessing the impact of benefits and tax exemptions on state budget revenues. Moreover, based on the declarations received through this system (for each type of tax and customs duties), it will be possible to determine the actual losses to the state budget in the medium term, to predict the impact of benefits on state revenues," the message said.
“From June 1, 2021, state bodies, legal entities of public law and business associations will be able to make proposals to amend the legislation on tax and customs benefits,” the committee said.
"It is planned to further improve the functioning of the system and assess the economic and social efficiency of tax and customs benefits," the ministry said.
