Azerbaijan, Baku, Oct. 5 /Trend A.Akhundov/
The taxation process of the securities market was specified and cemented in Azerbaijan, the head of Azerbaijani State Securities Committee Rufat Aslanli told journalists on Friday.
He said the state committee is working in this direction in cooperation with the ministry of taxes.
"Taxation processes in this sector have to be more precise than tax relief for the market. Our work is mainly conducted in this way. We believe that this focus on the Tax Codex will contribute to development of the securities market in the country," Aslanli noted.
Tax relief on investment securities was previously given to companies which underwent listing.
In addition, the parliament committee on economic policy has proposed taxation relief for income on securities' operations several times.
The tax holidays were over in 2010, resulting 10 per cent tax on individuals and companies on operations with securities.
The tax relief for operations with securities was first established in 1995.
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