PARLIAMENT OF AZERBAIJAN TO RECEIVE DRAFT AMENDMENTS TO TAX CODE
The government of Azerbaijan took a decision on introducing changes to the Tax Code.
The draft for introducing changes to the Tax Code will be submitted to the Milli Mejlis (MM) for consideration shortly, the head of the MM permanent commission on economic policy Sattar Safarov told Trend .
"For the moment taking the decision on reducing since 2006 the profit tax rate by 2% is envisioned.
Thus, its current level of 24% will be reduced to 22%. The possibility of changing the scale of the income tax payment from physical entities is not ruled outвЂќ, Safarov noted. Earlier the Finance Minister Avez Alekperov said, that since 2006 the rate on this kind of taxes was planned to reduce by 4% to 20% figure.
According to Safarov, the process of the tax rate lowering needs to be approached very carefully. "It is rather a complicated issueвЂќ.