TODAY.AZ / Politics

MP: Application of int'l accounting standards should not affect small business in Azerbaijan

27 April 2018 [11:22] - TODAY.AZ

By Trend:

Amendments to the law 'On Accounting' proposed for discussion at the plenary session of the Parliament of Azerbaijan should not create obstacles for development of small business, MP Rufat Guliyev told Trend on April 26.

The package of amendments, particularly, stipulates transition of the accounting entities operating in the country to international accounting standards. These procedures are not obligatory for small entrepreneurs.

"I fully support adoption of these changes. However, I believe that firstly the transition to the international accounting standards should be applied with regards to large and medium-sized businesses. They work with foreign companies and they need to have a complete register of documents, certificates, licenses and other documents The transition to international standards for small entrepreneurs can create obstacles for their development, "Guliyev said.

He said that today, first of all it is necessary to provide conditions for development of small business.

"Drawing up of accounting reports, registration of licenses and certificates force entrepreneurs to spend extra time and money, while they should concentrate on producing high-quality products, services and paying taxes to the budget. Today, we should boost small businesses and ensure their development upon the instructions of the country's leadership. I'd like to repeat that we, MPs, back speedy adoption of the amendments. Nevertheless, it is necessary to ensure that the transition to the international accounting standards does not affect small entrepreneurs with a view to exclude the discrepancy of the law in the future," Guliyev stressed.

URL: http://www.today.az/news/politics/169440.html

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