How are expenses for food, housing, and representation deducted from income?
Finance
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In the territories of Karabakh liberated from Armenian occupation, the clients of reconstruction and redevelopment projects are various state institutions. Among them are several central executive authorities, such as the State Agency of Azerbaijan Automobile Roads, the State Committee for Urban Planning and Architecture, the State Housing Construction Agency (MIDA), the State Committee for Refugees and Internally Displaced Persons, and others.
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This article examines public participation in budget management during the tenure of Samir Sharifov, who served as Azerbaijan's 5th Minister of Finance throughout a significant portion of the country's post-independence period. By analyzing his 19 years of service, we aim to assess his contributions and the Ministry's approach under his leadership.
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Previously, the classification of a taxpayer as high-risk was conducted solely on the initiative of the tax authority without reference to any legislative act, which naturally led to taxpayers’ legitimate grievances. Later, based on the practical experience acquired by the tax authorities in this area, on July 28, 2020, the Cabinet of Ministers adopted the decision to approve the “Criteria for a High-Risk Taxpayer, Including Risky Transactions.”[1] However, this document did not meet expectations regarding the identification of truly high-risk taxpayers, as the criteria determined were too strict in certain respects and, from a practical standpoint, half-baked. In my opinion, a key shortcoming of the decision is evident if one considers its lack of a mechanism for removing a taxpayer from the “black list” of high-risk taxpayers.
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The weakest aspect of the Tax Code of the Republic of Azerbaijan is its instability (volatility). The frequent changes in legislation (especially tax and customs regulations) are not only characteristic of the Tax Code but also of all normative legal acts in the country. This hinders taxpayers and entrepreneurs from implementing their plans for the future and negatively impacts the volume of domestic investments and the process of attracting foreign investments. Notably, taxpayers have repeatedly witnessed tax privileges and exemptions being granted without specified durations and subsequently revoked unexpectedly. Among the amendments to the Tax Code that will come into effect on January 1, 2025, there are provisions of this nature.
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