Simplified Taxation of Public Catering Facilities in Azerbaijan to Decrease Tax Burden by 40 %
Azerbaijan, Baku / Trend corr I. Khalilova, I. Ali-zade / The Azerbaijani Taxes Ministry suggests simplified taxation of public catering facilities. According to researches, introduction of a common taxation rate for the public catering facilities will enable a decrease in tax burden in this field by 40%, Azerbaijani Deputy Taxes Minister Natig Amirov said at the meeting of the Azerbaijani parliamentary commission on economic development on 26 October.
According to Amirov, the simplified taxation rate for the public catering facilities is suggested to comprise 10%.
"The key aim of the changing the taxation system for public catering facilities through decreasing tax burden is to improve transparency and to expand taxable basis, for that will prevent the enterprises from keeping back their transactions," Amirov said.
According to Amirov, simplified taxation system includes 98% of Azerbaijani tax-payers.