On March 11, 2014, there was a meeting between an International Monetary Fund (IMF) delegation and Azerbaijan’s deputy minister of taxes.
In recent years Azerbaijan’s tax revenues have been increased due to the establishment of a durable, flexible, transparent, and stable tax system, constant improvements to tax legislation and administration, and the application of modern information and communication technologies.
At the meeting, views were exchanged on the state of tax revenues in 2013, and forecasts for 2014-2015. In last year’s Article IV Consultation with Azerbaijan, the IMF highlighted reform efforts the Government was undertaking, including the adoption of a seven-year income tax exemption for residents in new industrial and technological parks, and a cut in the top personal income tax rate from 30 per cent to 25 per cent.
