Baku:Azerbaijan's Finance Minister, Sahil Babayev, has highlighted the significant amount of tax and customs exemptions in the country during a joint meeting of the Milli Majlis committees on Legal Policy and State Building; Defense, Security and Combating Corruption; Human Rights; and Regional Affairs.

According to Azeri-Press news agency, Minister Babayev explained that all tax and other exemptions are assessed in line with a government-approved methodology. The Ministry of Finance has established a dedicated portal to evaluate the fiscal and economic impacts of these exemptions, with results submitted to the Cabinet of Ministers for review.

Babayev stated that the main goal of the exemptions is to foster economic development, support the real sector, and encourage entrepreneurship. He noted that exemptions are generally favored for limited periods, with their extension reconsidered upon expiration based on prior results.

The minister also emphasized that decisions regarding exemptions are not based solely on economic criteria. Many are aimed at implementing social policies and protecting vulnerable groups within the society.