Azerbaijan may apply tax differentiation on strategic products

Baku. 18 April.REPORT.AZ/ The Ministry of Taxes may determine list of strategic products for Azerbaijan together with members of the government and consider tax differentiation.

Report informs, Chief of the Head Department for Tax Policy and Strategic Researches of the ministry Samira Musayeva said: 'Taxes Ministry is also studying international practice and tax rates of different states. For your information, I would say that average VAT rate is 20% in the European countries. Therefore, 18% in our country is low figure in comparison with whole Europe'.

'At present, differentiation is available in tax rates. Lower rate of VAT has been defined for strategic products, food industry, children's wear, products manufactured by small business. Of course, the Ministry of Taxes is ready to determine list of strategic products just for Azerbaijan together with members of the government and consider tax differentiation. We are ready to work seriously on this initiatives', she said.

S.Musayeva stated that however, the Ministry of Taxes has stopped a series of control, it may restore them any time, if necessary.'