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: Shafa Aliyev, Mayis Gulaliyev, Shahin Hurshudov, Afet Hasanova, Fariz Salahov
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.
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Keywords: taxes, corporate tax rates, economic growth, total capital formation, non-oil products
Pages: 2400-2412
DOI: 10.37394/23207.2023.20.206
WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 20, 2023, Art. #206