Azerbaijan Economy Ministry cancels requirement of several taxpayers for non-cash payments
BAKU, Azerbaijan, May 17
The Collegium of the Ministry of Economy of Azerbaijan has canceled the requirement of a number of taxpayers for non-cash payments, according to the decision approved by Chairman of the board of Collegium, Minister of Economy of Azerbaijan Mikayil Jabbarov, Trend reports.
Thus, the Collegium of the Ministry of Economy amended the ‘Rules for Conducting a Field Tax Inspection’, approved by the resolution of the Collegium on September 7, 2016.
According to the decision, for taxpayers registered for value-added tax (VAT) with a volume of taxable transactions exceeding 200,000 manat ($117,647) in any month (s) of the year, and for taxpayers carrying out trade activities during a calendar month for a total amount of more than 30,000 manat ($17,647), as well as for other taxpayers - for a total amount of more than 15,000 manat ($8,823), the requirement to make payments on settlements only in non-cash form was cancelled.
This requirement has been retained only for entrepreneurs operating public catering facilities.