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Azerbaijani parliament amends tax legislation

Business Materials 16 December 2016 16:56
The Azerbaijani parliament adopted a set of amendments to the country’s tax legislation which will enter force on January 1, 2017
Azerbaijani parliament amends tax legislation

Baku, Azerbaijan, Dec. 16

By Azad Hasanli – Trend:

The Azerbaijani parliament adopted a set of amendments to the country’s tax legislation which will enter force on January 1, 2017.

The amendments include the taxation of operations with offshore companies, limiting cash payments made by big entrepreneurs, operating in trade and public catering, to 30,000 manats per month, the taxation of legal entities and individual entrepreneurs for withdrawal of funds from bank accounts, etc.

Moreover, the sale of poultry meat, production and sale of wheat flour and bread in Azerbaijan will be exempted from the value added tax (VAT) for three years starting from 2017.

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