Ministry of Taxes Adopts Action Plan for Maximum Use of Tax Potential

Baku / 12.09.17 / Turan: The Tax Minister Fazil Mammadov approved the Action Plan to ensure budget forecasts by the end of this year. The document is aimed at ensuring the stability of the growth of tax revenues and maximizing the use of the available tax potential. This was stated by the ministry"s press service.

In the first eight months of this year, 4,671.3 million manat of taxes and state duties was collected through the Ministry of Taxes, which is 0.1% higher than the forecast figure. At the same time, in comparison with the same period in 2016, tax revenue increased by 7.3%.

According to the Taxes Minister Fazil Mammadov"s announcement at the meeting of the ministry"s Board held on September 9, the increase in the volume of revenues is due to the introduction of changes in the tax legislation and other legislative acts this year.

The Action Plan consists of tasks to ensure budgetary forecast indicators for 2017 and actions to improve tax administration. The plan includes the following actions:

- Improving the collection of tax debts;

- Restoration of the taxes evaded from payment by taxpayers, which were revealed during on-site tax inspections;

- Increase in tax control in certain areas of activity, according to which the level of tax evasion remains high (objects of cash settlements, etc.);

- Use of advanced methods for timely and complete collection of taxes.

In 2017, the Ministry of Taxes should ensure the collection of 7 billion 645 million manat to the state budget. ----08D