Azerbaijani microentrepreneurs receiving second lump sum payment

Azerbaijani microentrepreneurs receiving second lump sum payment

BAKU, Azerbaijan, Aug. 12

Trend:

According to the decree of the President of Azerbaijan and the corresponding decree of the Cabinet of Ministers on providing regular financial support to business entities, the State Tax Service under the Ministry of Economy has started transferring funds to individual entrepreneurs (microentrepreneurs), the ministry told Trend.

As part of the second stage of financial support, funds are transferred to microentrepreneurs who are most in need of such support and who received a lump sum payment of 250 manat ($147) at the first stage.

As part of the second stage, from August 11, funds were transferred to bank accounts of 49,421 microentrepreneurs. Unlike the first stage, this time taxpayers don’t need to fill out applications. Financial support payments are transferred to taxpayers who previously received such support.

Within the first stage of the program on provision of financial support to microentrepreneurs, applications were received from 118,551 taxpayers, 111,209 applications were considered, approved and submitted to the Ministry of Finance for transferring the allocated funds to taxpayers' bank accounts. The volume of financial assistance for approved applications is 63.6 million manat ($37.41 million). Within the first stage, funds were transferred in the amount of 63.55 million manat ($37.38 million) to 106,907 microentrepreneurs.

In the near future, the process will be launched on paying part of the wages of hired workers working in areas affected by the COVID-19 pandemic.

According to the decree of the Cabinet of Ministers, to date, the taxpayers working in coronavirus-affected areas, who received financial support and did not carry out serious job cuts in response to the appeal of the head of state to date, will receive financial support in the amount of a monthly wage fund in relation to the number of employees as of July 1, 2020.

The financial support will be paid on equal parts in two stages in August and September.

(1 USD = 1.7 AZN on Aug. 12)

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