Azerbaijan, Baku, Feb. 12 / Trend N. Ismayilova /
Azerbaijani Ministry of Taxes is working on developing activities that promote the use of the country's POS-terminals, First Deputy Minister of Taxes Natig Amirov said.
"Presently, taxpayers have not expressed much interest in the installation of POS-terminals. So, the Ministry is developing several projects to further submit them to the government, including stimulating activities in the use of POS-terminals", Amirov said.
According to him, one of these possible measures is to reduce tax rates for taxpayers using the POS-terminals.
"For example, the Ministry has received a proposal to reduce VAT from 18 to 9 percent on transactions conducted through the POS-terminal. Now, the Ministry of Taxes has been working to develop a similar catalytic activities, Amirov said.
According to the Central Bank of Azerbaijan, in 2009 about 4,663 transactions of the total number on debit cards were implemented through ATMs with the amount of 558 million manat. The number of POS-terminals is 129,000 transactions to the amount of 19 million manat. About 85,000 transactions at $ 17 million manat were implemented of the total number of transactions on creadit cards through ATMs. But 17,000 transactions to the amount of 11 million manat were realized through POS-terminals.
As of early 2010, about 8,657 POS-terminals were established in Azerbaijan or 533 POS-terminals more than the figure in 2008. About 7,871 POS-terminals are installed in Baku, 786 - in other regions.
As of February 10, official rate was 0,8033 AZN / USD.