TAX MINISTER MEETS WITH HEAD OF IMF MISSION
The sides discussed if the tax proceeds meet the forecast for the first half of 2006 and budget forecast for the remaining months as well as the tax policy to be pursed in 2007 and budget receipts forecast for the next year.
On the tax reforms, Minister F. Mammadov highlighted the fact that tax proceeds forecast was beaten during six months of the current year and non-oil sector transfers to the state budget made up 467.9 million AZN instead of 403.9 million manats scheduled. According to F. Mammadov, reforms aimed to ensure compulsory collection of tax debts, improve tax administration will allow to increase tax proceeds by 25% in 2007.
Head of IMF mission V. Kramarenko was curious about what kind of sources will ensure the non-oil sector growth. Minister of Taxes told of the changes in the tax legislation aimed at improving the VAT registration and pointed to strengthening the tax control in the sectors which deal with cash payments.
On the cooperation with the International Monetary Fund, F. Mammadov stressed that Ministry of Taxes is always ready to accept IMF recommendations but they should not hamper macroeconomic development of Azerbaijan.
The meeting also focused on other issues of mutual concern.
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