Azerbaijan not eyeing major changes to Tax Code: deputy minister (Exclusive)
Baku, Azerbaijan, Oct. 12
By Anvar Mammadov – Trend:
Azerbaijan’s Ministry of Taxes does not intend to make major changes to the Tax Code, Deputy Taxes Minister Sahib Alakbarov told Trend.
“Last year we virtually adopted a new code, so I don't think major changes will be made to it this year. I believe implementation of the already introduced changes will bring us significant benefits. I think minor changes may be made to the code,” he noted.
The latest amendments to the Tax Code provided for the decrease in volumes of cash settlements, imposition of taxes on electronic commerce, reduction of the tax burden, simplification of tax administration, expansion of taxpayers' rights and other issues.
In particular, it was envisaged to tax transactions with offshore companies, limit cash settlements by large entrepreneurs engaged in trade and public catering to 30,000 manats per month, tax legal entities and individual entrepreneurs for cash withdrawal from bank accounts and other issues.