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    Chamber of Accounts: Cash operations must be restricted to fulfil forecast

    'Electronic invoicing system should be introduced'

    Baku. 30 November. REPORT.AZ/ Cash operations must be restricted and the issue related to application of electronic invoicing system must be successfully solved to fulfill income forecast to the state budget through channels of tax ministry.

    Report informs, outlook of Chamber of Accounts of Azerbaijan on 2017 state budget draft says.

    “Taking into account fragility of macroeconomic conditions, which form basis for levitation of value-added and simplified taxes as main income of state budget, the optimal fulfilment of forecasts for next financial year mainly depends on implementation of complex measures determined in “directions of tax reform in 2016”, especially stimulation of non-cash and restriction of cash operations, successful solution of issues related to application of electronic invoicing system’, the document says.

    It was also stated that, if to take into account that introduction of electronic invoices will embrace production of services, construction, tourism, transport, information and communication fields, which produce 60% of GDP, as a single system, it will positively affect mobilization of budget incomes. 

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