Azernews.Az

The revenue from compulsory state social insurance payments increased by 19.2 percent amounting to AZN 4.6bn, Azernews reports referring to a tweet by Economy Minister Mikayil Jabbarov.

“In the face of legalization of the labor market and the “whitening” of the #salary fund, the revenues from compulsory state #socialinsurance payments increased by 19.2% and reached 4 bln. 586.3 mln. ₼, compared to a year earlier. During this period, the revenues from the #unemploymentinsurance grew by 19% to 160.2m,” the minister tweeted.

Besides, revenues from unemployment insurance increased by 19 percent amounting to AZN160m.

Reforms in the tax system starting in January 2019 and, in parallel, the electronification of services created conditions for the rapid reduction of the "shadow economy" in the country. As a result of the measures taken to eliminate the "shadow economy", the number of taxpayers has increased sharply.

---

Follow us on Twitter @AzerNewsAz