The main purpose of the study is to reveal the sandbox regime (regulatory test regime) and its characteristics, as well as possible areas of impact on financial markets to develop the fintech ecosystem against the background of deepening digital transfor-mation.In addition to the disclosure of best international practices, the method of lo-gical generalization was applied in the research.The study contains the main objectives of the application of the sandbox regime and their analysis in order to expand the application of innovative technologies and solutions in financial markets.It also exa-mines the legal regulation of the sandbox regime and international best practices in this area, the possible impact of this regime on financial markets, as well as the posi-tive trends and the main types of risks associated with the implementation of the re-gime.As a result of the research, the impact of the sandbox regime on the financial markets was announced, and proposals were made for the application of this regime in our country.The limitation of the research is that it requires practical information on the impact of the sandbox regime on local financial markets.The practical significance of the research is to study the role and importance of the sandbox regime in the deve-lopment of the fintech ecosystem, to analyze the impact on financial markets, as well as to choose the most suitable solution for the development of this field in our country.

Keywords: sandbox regime, payment service provider, fintech, non-bank payment service provider.

Abstract

The main purpose of the study is to determine the effectiveness of tax benefits and exemptions applied in the Republic of Azerbaijan. The research was carried out on the basis of such research methods as comparative analysis, systems approach, logical generalization. In the course of the research work, the essence of tax benefits was revealed, an analysis of tax benefits and exemptions provided for by the Tax Code of the Republic of Azerbaijan was carried out, and issues of assessing their effectiveness were studied. Limitations of the study – need for additional practical information. As a result of the study, proposals were developed to assess the budgetary, economic and social benefits of tax incentives and exemptions. The practical significance of the study lies in providing practical assistance in assessing the effectiveness of tax benefits and exemptions provided for by the Tax Code of the Republic of Azerbaijan.


Keywords: tax incentives, tax policy, social benefits, incentive benefits, criteria for the effectiveness of tax benefits.