Tax legislation of Azerbaijan expected to undergo serious changes (Exclusive)

Business Materials 10 September 2018 12:52

Baku, Azerbaijan, Sept. 10

By Azad Hasanli – Trend:

New amendments to the tax legislation may be adopted in Azerbaijan by the end of the year, Samira Musayeva, General Director of the Tax Policy Department of the Ministry of Taxes of Azerbaijan told Trend.

She noted that the changes are aimed, among other things, at reducing the tax burden, simplifying tax administration, and suppressing tax evasion.

One of the proposals is the introduction of a single rate on the income of individuals. Musayeva said by the instruction of the head of state, the authors of the bill focused on reducing the tax burden in this area. Currently, the income tax in Azerbaijan amounts to 14 percent, and another 26 percent (22 percent - employer, 3 percent - employee) fall to the share of social contributions to the State Social Protection Fund.

Currently, she said, the package of proposals is under consideration by the government.

Recently, the Ministry of Taxes has been purposefully working not only on reduction of the tax burden, but also on simplification of the tax administration. So, for example, as it was reported earlier, the Ministry of Taxes will fill in the first versions of tax declarations instead of taxpayers and will send them to taxpayers for approval.


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