Azerbaijan tax authorities hold talks with fintech industry on legal reforms Photo

The Main Directorate for Tax Policy of Azerbaijan’s State Tax Service (STS), operating under the Ministry of Economy, has held consultations with members of the Azerbaijan Fintech Association as part of efforts to modernise tax regulation and support the country’s growing financial technology sector.

According to an official statement, representatives of fintech companies briefed tax officials on the current state of the industry and its development prospects, and presented proposals they believe are necessary to stimulate further growth, Caliber.Az reports. 

Key issues discussed included the formal definition of “fintech” in national legislation, as well as regulatory and tax matters related to payment and financial services. Participants emphasised the importance of clearer legal terminology and an updated framework to better reflect the evolving nature of digital financial services.

The State Tax Service said the meeting forms part of a broader initiative to strengthen public-private dialogue and improve tax legislation. Authorities plan to continue consultations with entrepreneurs to gather feedback and proposals aimed at enhancing the business environment.

By Sabina Mammadli