Tax exemption lifted for micro entrepreneurs in Azerbaijan
From next year, micro-entrepreneurs with an average monthly salary of less than 3 employees in Azerbaijan and who owe mandatory state social insurance contributions will pay 20% of their income instead of 5%, in other words, a 75% tax concession and exemption for them will not apply, Azernews reports.
It is worth noting that this was reflected in the bill on amendments to the Tax Code.
According to the document, if the taxpayer does not meet the conditions for the application of the tax relief and if the individual entrepreneur switches from a micro-entrepreneurial entity to another category of entrepreneurial entity in the next reporting year, a tax relief equal to 75% of the income tax calculated and paid according to the results of the previous 3 calendar years in which the individual entrepreneur was a micro-entrepreneur is not determined. It is deducted from the income tax liability during periods when it is a business entity.
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