(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 20. Azerbaijan has
seen positive results in the direction of "whitening" of economic
cycles of economic entities, First Deputy Economy Minister of
Azerbaijan Elnur Aliyev said, Trend reports.
He spoke at the Customs Business Forum 2023 (GBF23) held in
Baku.
Elnur Aliyev noted that not only fiscal tools, but also flexible
control mechanisms play their role in regulating the economic
environment in Azerbaijan.
"Because ensuring a competitive environment in the home market
is closely related to the attractiveness of the business
environment. In this regard, the effective cooperation created
between the State Tax Service under the Ministry of Economy and the
State Customs Committee, which coordinates customs and tax
authorities' actions, is critical. Today, the mutual flow of
information established between both institutions, as well as the
establishment of a unified risk platform, are useful for enhancing
company transparency, lowering the "shadow economy," and assuring
competitiveness," he said.
Aliyev went on to say that effective tax and customs control
procedures are yielding beneficial outcomes in terms of "whitening"
the economic cycles of corporate entities. There is a functioning
information sharing mechanism amongst institutions. Particularly
noteworthy are the relevant authorities' collaborative efforts to
avoid incidents such as illegal transfer of imported commodities to
third parties and erroneous identification of detained commercial
entities. Intensive work is currently underway to strengthen
existing tax and customs cooperation, coordination, and information
exchange, to strengthen control over persons who import or export
goods for third parties, to prevent the importation of counterfeit
and counterfeit products into Azerbaijan, and to improve the risk
management system.
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