Azernews.Az

By Sara Israfilbayova

Azerpost, the national post operator, has put into operation new automated payment terminals e-GovPay with a currency exchange function.

Currently, the currency exchange terminals are installed in the centers of Azerpost Shabaka located in Yasamal, Khazar and Binagadi districts of Baku, as well as in the General Post Office building.

It is also possible to pay through the terminal for utility and communication services, Internet, etc. The main advantage of the new terminals are the functions of accepting coins and giving change.

E-GovPay payment terminals with currency exchange function will be installed in public places and in Baku's trading facilities, as well as in telecommunication nodes of state telecom operators, which is an alternative option that allows citizens to pay for communication services, as in accordance with the Law “On non-cash payments”, the operators themselves do not have the authority to accept payments.

The law “On non-cash payments” was adopted in order to strengthen accounting in the financial system, through the development of non-cash payments.

The law envisages a limit for cashing operations. Banks and postal operators will charge a simplified tax (1 percent of the sum) for cashing of means kept in bank accounts of legal entities and private entrepreneurs.

Under the law, trade and public catering entities (registered as VAT payers), with the annual turnover exceeding 200,000 manats ($117,584) will have a right for limited volume of cash payments (not exceeding 30,000 manats ($17,637) per month), while a limit of 15,000 manats ($8,818) will be set for other taxpayers.

The volume of non-cash payments in 2016 stood at 856 million manats ($503.3 million), recording an increase of 122 million manats ($71.7) or 16.6 percent.

---

Follow us on Twitter @AzerNewsAz