Azerbaijan revises benefits of social nature in Tax Code
BAKU, Azerbaijan, Nov. 7
Amendments were made to the Tax Code of Azerbaijan, and the existing system of benefits was revised in order to reduce the financial (tax) burden of the population at the expense of social benefits, Trend reports with reference to the State Tax Service under the Ministry of Economy of Azerbaijan.
The period of VAT exemption for the sale of poultry meat was extended for another four years, and the sale of meat was also exempt from VAT for four years. The registration period of at least five years at the place of residence, provided to individuals with tax exemption, has been reduced to three calendar years.
In addition, 30 square meters of living space, without exception, are exempt from tax when providing housing for private ownership to individuals. Editorial, publishing and printing activities related to the production of sets of textbooks for vocational education institutions are exempt from VAT.
One more item has been added to the existing system of benefits. Some 30 percent of the VAT paid by individuals in the non-cash purchase of residential and non-residential premises from those engaged in the construction of buildings in Azerbaijan will be returned to these individuals.