How will microbusiness entities in Azerbaijan have to pay taxes in 2019?
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By Trend
Starting from 2019, microbusiness entities in Azerbaijan will pay profit tax and income tax after deducting benefits, Director General of the Tax Policy Department of Azerbaijan’s Ministry of Taxes Samira Musayeva said at a press conference on the changes made to the Tax Code of Azerbaijan, Trend reports.
Explaining the amendments to the legislation, she noted that the ministry won’t require entrepreneurs to pay the entire tax, and then return the amount subject to exemption.
Starting from Jan. 1, 2019, 75 percent of monthly income and profits of microbusiness entities will be exempt from the payment of the profit tax and income tax.
In addition, micro-entrepreneurs (startups) who received a special document confirming their innovative activities will be exempt from profit tax and income tax for a period of three years.
In Azerbaijan, microbusiness entities are companies with an annual income of up to 200,000 manats and a staff of up to ten people.
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