WNAM MONITORING: The State Tax Service (STS) under Azerbaijan’s Economy Ministry prioritizes the return of capital to businesses and the application of tax policy tools that encourage reinvestment within its development strategy for 2025-2028, said Nijat Imanov, Head of the Tax Policy Department at the STS.
He made the remark during the 3rd Tax and Accounting Summit held in Baku.
Imanov emphasized the need for tax policy tools that support entrepreneurship and business expansion. “Incentive policies should stimulate investment in the country’s economy,” he stated.
The official also highlighted the importance of developing human capital to create a robust tax system that drives economic growth: “We are guided by the principles of honesty, professionalism, initiative, and innovation. We are continually enhancing our team’s professional skills and competencies.”
He stressed the need for transparent taxpayer activities to be economically efficient, coupled with effective administrative tools to prevent tax evasion: “We aim to create an environment where the tax burden and payment processes are transparent and straightforward. At the same time, tax evasion should result in serious legal consequences, both administrative and criminal.”
The department head asserted that a tax policy promoting entrepreneurship, effective tax control, and simplified payment mechanisms increases the level of voluntary compliance: “This is evidenced by last year’s results, where 93% of all tax revenues were voluntarily paid to the state budget by taxpayers.”
Highlighting the main goal of the STS, Imanov stated that they aim to make voluntary compliance simple and accessible through people-centered and innovative services. The institution plans to continue its activities as a reliable partner in this regard, he added.
