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29.08.2014 12:28

Azerbaijan to set up tax control over e-commerce

By Zulfiyya Kurbanova - Trend:

Azerbaijan will provide measures to create an improved mechanism of tax control over e-commerce, Chief of the Tax Policy and Strategic Studies of the Ministry of Taxes Natig Shirinov said in an interview published in the ministries official newspaper Aug. 28.

The current tax control over all spheres of business, including e-commerce, is carried out according to generally established procedure. However, the improvement of tax control in this area is an important issue.

"Implementation of e-commerce over the Internet is an integral part of the globalization. Recently developed countries are entering a new stage of development - the creation of a common information space," he said.

The changes taking place in the sphere of business activities in this regard are reflected in the conduct of business via electronic and e-commerce applications.

"The emergence of global innovations such as e-commerce causes the regulation of relations, including the alignment of technical, economic, financial, tax and legal norms. In recent years in the United States, Canada, Australia and some European countries legislation acts governing e-commerce are being adopted," he said, adding that Azerbaijan has also adopted a number of similar legislation acts.

In January-July 2014, the market for electronic commerce (e-commerce) in Azerbaijan amounted to 1.5 million AZN. Compared with the same period of 2013, the total retail of e-commerce in Azerbaijan rose by 10.2 percent.

E-commerce market participants are legal entities and individuals engaged in electronic commerce and buyers of goods and services. Total retail sales in Azerbaijan in January-July 2014 amounted to 11.8 billion AZN. The sales of consumer goods in the country grew by 9.1 percent compared with the same period of last year.

The official exchange rate for August 28 is 0.7844 AZN / USD.

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