A seminar to discuss changes and amendments to the Tax Code of the Country with local entrepreneurs has been held at the National Confederation of Entrepreneurs (Employees) of Azerbaijan, Trend reports.
Alakbar Mammadov, the head of the National Confederation, marked the importance of organizing and holding such events, since businessmen are eager to be enlightened as how to apply the new tax legislation while taking into consideration the new amendments.
According to Aflatun Babayev, the Editor-in-Chief of Accounting Journal, 68 changes and amendments were made to the Tax Code. They are mainly oriented to the following: the simplification of legislation, reduction of the tax payers' tax burden, improvement of tax control and changes of an editorial nature. Changes were made to the rules of applying cash registers, in particular financial sanctions became more severe (it was previously regulated by the Civil Code) due to the misuse with them. Actions taken to control cashless settlements with the public have been improved.
The innovation is that companies engaged in housing construction have been transferred to the simplified system of taxation. Depending on the location of the houses, limits on construction to be approved by the Cabinet of Ministers of the Country soon will be introduced. The Cabinet of Ministers is also expected to determine the minimum amount of payment for apartment rent.
During the meeting, representatives of the Taxes Ministry вЂ" Vusal Shikhaliyev, Etibar Abbasov, answered all questions the participants of the event asked.