More taxpayers to receive financial aid amid COVID-19
By Ayya Lmahamad
Azerbaijan continues to support entrepreneurs and small businesses to curb the economic impact of COVID-19 pandemic.
Individual entrepreneurs will be provided with one-time financial support as part of the financial support to business entities to reduce losses of businesses, improve their financial position and save jobs.
The financial aid will cover Lankaran and Sheki cities and Jalilabad, Bilasuvar, Gakh, Zagatala, Masalli, Ismailli, Guba and Khachmaz regions where the special quarantine regime has been tightened, leading to restriction of business entities' activity.
Financial support to employees of business entities in these 10 cities and regions will cover up to 1,900 taxpayers with 9,300 employees, and more than 13,000 taxpayers.
It should be noted that there is no need to re-apply for financial support, as payments will be made to taxpayers who received financial support during first and second stages. Financial support will be provided to taxpayers who have not significantly reduced the number of employees in the last 4 months.
As of the end of October, AZN 204.6 million ($120.3M) was transferred to the taxpayers' bank accounts for payment of part of the employees' salaries, and AZN 77 million ($45.2M) for financial support to individual entrepreneurs. Two stage financial support program covered more than 130,000 taxpayers and more than 344,000 citizens.
Financial support is provided to taxpayers in accordance with the order of the Azerbaijani President and the relevant decision of the Cabinet of Ministers, working in areas affected by the pandemic, and who received funds under the first phase of financial support and have not made significant staff reductions.
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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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