Samir Sharifov: Higher education institutions will not be subject to profit tax

Baku. 1 December. REPORT.AZ/ Higher education institutions in Azerbaijan will not be subject to profit tax.

Report informs, Finance Minister Samir Sharifov said.

"The Chamber of Accounts touched on the issue of profit (corporate tax) in state of higher education institutions.

In this regard, no issue raised by government, an amendment to the Tax Code not considered. Progressive work has been done in the area of per capita funding. State-owned higher education institutions are working effectively. But it does not mean that they should be taxed. I think that as in some countries these institutions should operate as non-profit organizations.

"Funds collected from education fees should be directed to management and development of higher education institutions", the minister stressed.

S. Sharifov also commented on the reduction of the funds allocated to science. Minister noted that there is a 2-year reserve funds: "Also, for 7-8 years we print books in Latin. At one time we should stop this process. There are no other drastic cuts."