WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 20, 2023
Effects of Taxes on the Development of the Non-Oil Industry Sector: The Case of Azerbaijan
Authors: , , , ,
Abstract: A panel analysis of the relationship between corporate tax rates and GDP per capita, economic growth rate, total capital formation, and non-oil product volume proves that these variables’ dependency on corporate tax rates is weaker. The main finding of the study is that there is a negative relationship between the volume of non-oil industrial products and taxes in Azerbaijan. Based on the results of the research, it can be argued that neither corporate taxes nor general taxes have a significant impact on the production volume of non-oil industrial products in Azerbaijan in the short term. However, there is a negative relationship between taxes and the volume of production of non-oil industrial products in the long run.