Azerbaijan changes procedure for calculating social insurance rates for business entities

Azerbaijan changes procedure for calculating social insurance rates for business entities

BAKU, Azerbaijan, May 6

By Ilhama Isabalayeva - Trend:

Azerbaijan has changed the procedure for calculating social insurance rates for business entities.

The issue has been reflected in the amendment to the law on Social Insurance, discussed at the meeting of the Azerbaijani parliament, Trend reports.

Presently, the compulsory state social insurance rate for people receiving income from the activity not related to the hired work is being set depending on the type of activity.

Thus, the social insurance rate in the amount of 50 percent of the minimum monthly salary is applied for business entities operating in the construction and trade sectors, and in the amount of 25 percent for other spheres.

In accordance with the proposed new amendment, in the construction sector in Baku, 100 percent of compulsory state social insurance in the amount of 50 percent of the minimum monthly salary will be paid; in other spheres - in the amount of 25 percent of the minimum salary in entrepreneurial activity; in Sumgayit and Ganja – 90 percent, in other cities – 80 percent; in settlements and administrative and territorial units, which are the centers of districts – 60 percent; and in rural areas – 50 percent.

Compulsory state social insurance for individuals is envisaged in the following manner:

- 5 percent of the minimum monthly salary will be calculated for hosts at weddings, festivals and other events, as well as those involved in dancing and other similar activities;

- 5 percent of the minimum monthly salary will be calculated for those operating in the field of individual photo, audio and video services (excluding photo studios);

- 3 percent of the minimum monthly salary will be calculated for shoemakers;

- 3 percent of the minimum monthly salary will be calculated for those repairing watches, TV sets, refrigerators and other household appliances;

- 3 percent of the minimum monthly salary will be calculated for individuals working as housekeepers in private houses and apartments; people caring for the sick, the elderly and children; nannies; personal drivers; people who render cleaning services in the personal household; gardeners; cooks; security guards and waiters;

- 3 percent of the minimum monthly salary will be calculated for those operating in calligraphy workshops;

- 3 percent of the minimum monthly salary will be calculated for hairdressers in private hairdresser’s;

- 3 percent of the minimum monthly salary will be calculated for tailors in private tailor’s shop.

Compulsory state social insurance for individuals using own agricultural land (excluding those paying state compulsory social insurance, working in other spheres), and able-bodied people of the first and second disability groups of family farming, as well as for each family member beginning from 15 years old except for children under 18 with disabilities, depending on the land plot, will be calculated at the following minimum monthly salary rates:

- up to 5 hectares - in the amount of 2 percent;

- from 5 hectares to 10 hectares - in the amount of 6 percent;

- more than 10 hectares - in the amount of 10 percent.

In accordance with the amendment, social insurance payments will be in the amount of six percent of the minimum monthly salary for taxpayers, transporting passengers and cargo by vehicles, and who have received the distinguished service medals in the manner as prescribed by the Tax Code.

The amendment was put to the vote and adopted on second reading following the discussions.

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