Azerbaijan, Baku, 16 January / corr. Trend I. Khalilova/ Losses in the public budget due to changes in the income tax scale in 2008 will make up AZN 25 to 30 mln, Fazil Mammedov, the minister of taxes of Azerbaijan said. However, the minister says that the number of entrepreneurs may increase, their activities will improve and taxation basis can be expanded due to other measures, especially due to the introduction of a new unified window registration system.
It will gain more than AZN 30 mln in the public budget, the minister said.
According to amendments to the Tax Code, the range of monthly income that was in the 35% income tax bracket was increased to AZN 2000 from the previous AZN 1000. Income of individuals which is up to AZN 2000 will have a 14% income tax bracket and income which is more than AZN 280+AZN 2000 will have a 35% income tax bracket.
Meanwhile the range of annual income which will have a 14% income tax bracket will make up AZN 24,000 and those with more than 35% income tax will exceed AZN 3360+ AZN 24,000.
The changes in the scale of income tax will lead not only to legalization of salaries, but also improve the population's welfare, minister said.