Baku, Azerbaijan, Oct. 20
By Azad Hasanli - Trend:
The Azerbaijani parliament adopted the draft amendments and additions to the Tax Code at the plenary session on Oct. 20.
The changes include the expansion of the coverage of benefits for income tax, exemption of satellites and other spacecraft from paying the property tax.
Moreover, according to the amendments, the winnings of the participants of sports betting in Azerbaijan will be subject to income tax from 2016. The physical and legal entities, dealing with housing construction, will only pay the simplified tax. The new simplified tax rates will be introduced for the sphere of trade and public catering. The trade tax rates will be increased. The penalties for violation of the cash settlement procedures, etc. will be toughened.
According to the changes in the tax legislation, the ministry will be empowered to apply to the courts with an initiative to restrict the tax debtors' leaving abroad, in particular, the officials of the companies.
The ministry will be able to use these powers towards Azerbaijani citizens, foreign countries and stateless people.
The parliament also adopted the draft amendments to the Migration Code and the Code of Civil Procedure.
According to these amendments, if the taxpayer pays off the tax debt, he can leave the country in two working days.
Edited by CN