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Benefits for micro-entrepreneurs envisaged in Azerbaijan

Finance Materials 22 April 2020 14:09 (UTC +04:00)
Benefits for micro-entrepreneurs envisaged in Azerbaijan

BAKU, Azerbaijan, April 22

By Eldar Janashvili – Trend:

Benefits for all micro-entrepreneurs, regardless of the level of impact on their activities by the coronavirus pandemic, are envisaged in Azerbaijan, Trend reports citing Ministry of Taxes.

According to the Action Plan approved by the Cabinet of Ministers on April 4, 2020, the Azerbaijani Ministry of Taxes provides for tax benefits and vacations for business entities working in areas affected by the pandemic.

So, providing micro-entrepreneurs with a 50 percent discount on simplified tax is proposed in the package. That is, the tax rate is reduced from two to one percent.

Moreover, it is proposed to provide simplified tax reporting and reports on income tax and property taxes and the provision of tax holidays until September 1, 2020 for payment of accrued tax to the budget.

By decision of the Cabinet of Ministers, the term for full or partial restriction of the relevant types of activities is not included in the validity period of receipts received by taxpayers who are engaged in individually receiving a fixed check, and refers to the payment of taxes in the subsequent period.

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Follow the author on Twitter: @eldarjanashvili

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