Application of tax benefits in areas suffered from COVID-19 proposed in Azerbaijan
By Trend
The application of tax benefits for taxpayers in the areas most affected by the COVID-19 pandemic is proposed in Azerbaijan, Trend reports referring to the Ministry of Taxes.
According to the Action Plan approved by the Cabinet of Ministers on April 4, 2020, the Azerbaijani Ministry of Taxes provides tax benefits and vacations for business entities working in the areas affected by the pandemic.
In the package of proposals, along with exemption from property and land taxes for areas of activity suffered from the impact of the coronavirus pandemic, a number of tax benefits will be provided to the taxpayers working in these areas, depending on the taxation method they have chosen, for one year since January 1, 2020.
So, for the taxpayers working in the mode of profit taxation, tax benefits are provided in the amount of 75 percent of the profit. In turn, a 50 percent discount on the amount of simplified tax is provided for taxpayers engaged in catering and passenger transportation, and for those who are payers of simplified tax.
|
Tax rate and amount |
Current tax |
Recommended tax |
|
Catering sector |
8 percent |
4 percent |
|
Passenger transportation (except taxi) - per seat |
1.8 manat ($1.05) |
0.9 manat (5 cent) |
|
Passenger transport (taxi) - for each vehicle |
9 manat ($5.29) |
4.5 manat ($2.64) |
(1 USD = 1.7 AZN on Apr. 22)
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