Number of labor contracts in Azerbaijan up more than 44%

As of April 1 this year, the number of labor contracts concluded in the private sector of the non-oil sector stood at 779,476, up 239,554 contracts or 44.4% from the previous year, Report informs, citing the State Tax Service under the Ministry of Economy.

"The significant increase in revenues from compulsory state social insurance and unemployment insurance premiums is an indicator of the process of transparency in the labor market and points out the fiscal effectiveness of the application of income tax exemptions," State Tax Service said.