BAKU, Azerbaijan, Sept. 16
By Zeyni Jafarov - Trend:
The turnover of new-generation online sales registers in Azerbaijan increased 2.1 times from January through June 2021, compared to the same period of 2020, the chairman of the Chamber of Auditors of Azerbaijan Vahid Novruzov told Trend.
The installation of new-generation cash registers in Azerbaijan's retail facilities has a positive effect on the legalization of trade turnover, he said.
The level of a mandatory audit by economic entities in the country has increased from 3.2 to 48.7 percent over the previous 5 years, Novruzov noted.
"In the first half of 2021 the forecast for tax revenues was exceeded by 24.4 percent, including for the non-oil sector, about 500 million manat ($294.1 million) was additionally received by the state budget," he said.
The State Oil Fund of Azerbaijan ranks 5 among 64 independent funds in the world, which is one of the most successful results in the field of economic transparency, Novruzov added.
"The steps taken to minimize the scale of the shadow economy, the legalization of business activities and income continue to give positive results. Today, measures aimed at achieving higher transparency in economic processes are underway," he concluded.
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