Value Added Tax Accounting and Auditing in Azerbaijan

In a market economy, taxation is one of the few levers still in the hands of the state, enabling it to intervene in and influence processes taking place within society and the economy. VAT is the most complex to calculate of all the taxes within the tax system. It is traditionally classified as a universal indirect tax, which is levied in the form of a surcharge on the price of goods. The aim of this paper is: 1. To demonstrate the role and significance of VAT in Azerbaijan's economy. 2. To analyse the accounting and auditing of this tax. The objectives are as follows: 1. To attempt to provide my own assessment of each of the topics I have addressed, drawing both interim and final conclusions. 2. To set out my opinion on the use of this tax in Azerbaijan.