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Certificate were presented to new member company of the Caspian European Club (Caspian Business Club): Veyseloglu Group of Companies

30.06.2016

The joint business forum of the Ministry of Taxes of the Republic of Azerbaijan and the Caspian European Club (Caspian Business Club) was hosted (June 29) in Baku. The business forum featuring Deputy Minister of Finance Ilkin Valiyev, Head of the Main Department for Tax Policy and Strategic Surveys of the Ministry of Taxes Samira Musayeva and Deputy Head of the Main Department for Tax Policy and Strategic Surveys of the Ministry of Taxes Shamil Arabov focused on key issues of the tax legislation of Azerbaijan and upcoming reforms in this area.

Addressing the business forum, Deputy Minister of Taxes Ilkin Valiyev said the cooperation between the Ministry of Taxes and the Caspian European Club (Caspian Business Club) is at the high level. The established partnership builds on the useful dialogue in addressing problems entrepreneurs face.

Ilkin Valiyev informed the forum attendees about the reforms within the tax system carried out in the recent years. He said the Ministry of Taxes is interested in improving the business environment and tax legislation in Azerbaijan. According to Ilkin Valiyev, the Ministry of Taxes is ready to continue the cooperation with the Caspian European Club (Caspian Business Club) that brings together hundreds of foreign and local companies in order to increase the level of performed tax obligations by taxpayers, as well as to boost the development of partnerships between the tax authorities and businesses. He stressed many discussions on current topics in the field of taxation with the member companies of the Caspian European Club (Caspian Business Club) have secured positive results. It was noted that the Ministry of Taxes, which is committed to further improving of the business environment in the country, prioritises various discussions in such format and takes note of changes in the legislation being proposed by local and foreign business structures, their social organisations in order to liberalize the tax environment and improve the tax administration.

The Deputy Minister said the changes introduced to the Tax Code in recent months have enabled to improve the business environment, to expand activities of businesses and created a more attractive investment environment in Azerbaijan. He stressed the Government has taken appropriate steps to increase local production and promote export-oriented production and export activities.

At the same time it was noted that taxpayers and entrepreneurs should fulfill their obligations; correctly calculate taxes and pay them on time and in full to the state budget; ensure transparency in tax accounting.

Within the framework of the business forum were listened to proposals of companies, discussed the problems faced by businessmen discussed ways to solve them. Representatives of the Ministry of Taxes of Azerbaijan also responded to questions about the companies participating in the business forum.

During the business forum proposals of the companies were listened, the problems businessmen face and the ways to address them were discussed. The representatives of the Ministry of Taxes of Azerbaijan also responded to the questions of the companies participating in the business forum.

Speaking at the business forum, First Vice-Chairman and Chief Executive Officer of the Caspian European Club (Caspian Business Club) Telman Aliyev thanked the leadership of the Ministry of Taxes in the person of Minister Fazil Mammadov, as well as the Deputy Ministers, who have worked closely and provided full support to businessmen throughout all the activities of the Caspian European Club (Caspian Business Club) and Caspian Energy International Media Group.

 “Our goal is to establish a new level of prompt cooperation of companies with representatives of the Ministry of Taxes”, Telman Aliyev emphasized.

Telman Aliyev said that according to the results of the business forums the Expert Council of the Caspian European Club (Caspian Business Club) together with the Ministry of Taxes will work out proposals to amend the tax law to be submitted to the Administration of the President of Azerbaijan, the Cabinet of Ministers of Azerbaijan and Milli Majlis (Parliament) of Azerbaijan.

Telman Aliyev noted that Caspian European Club (Caspian Business Club) was established in June 2002 under support of large oil-gas companies operating in the Caspian and Black Sea region. His Excellency President of the Republic of Azerbaijan Ilham Aliyev is the Chairman of the Caspian European Club (Caspian Business Club). According to Telman Aliyev, the Caspian European Club (Caspian Business Club) has promoted attraction of oil sector revenues into development of the non-oil sector since its establishment. Caspian European Club, which brings together over 5,000 member companies and organisations, is operating in 50 countries around the world, carrying out an active work to maintain the dialogue between government agencies and the private sector.

In the course of the business forum Ilkin Veliyev was presented an honorary membership certificate of the Caspian European Club (Caspian Business Club). Certificates were also presented to new member companies of the Caspian European Club (Caspian Business Club): A-Group Insurance Company, Azertelecom LLC, Debet Uniform Ltd., Trast BV, Mont MMC and Veyseloglu Group of Companies.

The business forum was attended by executives of companies, ambassadors and representatives of diplomatic agencies and international organization