Azerbaijani Parliament adopts amendments to Tax Code

November 24, 2021 6:42 p.m. (UTC + 04:00)


Through Tendency

The Milli Mejlis (Parliament) of Azerbaijan approved amendments to the Tax Code during today’s plenary session, Tendency reports Nov. 24.

According to the information, the main directions of the proposed changes are to encourage entrepreneurial activity, broaden the tax base, reduce the financial and fiscal burden of the population through social benefits, improve tax accounting mechanisms. , tax and audit, to provide tax incentives to businesses, etc.

One of the proposals to reduce the tax burden on the population through social benefits is the income tax exemption for material assistance up to 10,000 manat ($ 5,882), provided to members of the families of martyrs, as well as servicemen disabled due to injuries during the military. operations for the freedom, sovereignty and territorial integrity of Azerbaijan.

In the continuity of the attention and care for this category of citizens, it is proposed to exempt from income tax material assistance up to 10,000 manats ($ 5,882) offered to people belonging to this category. , regardless of its destination.

Another proposed change to the Tax Code is an income tax exemption of up to 10,000 manat ($ 5,882) provided as a one-time benefit, material assistance to pay for salaries in the country, including surgeries, as well as up to 40,000 manats. ($ 23,539) provided as material aid, a lump sum to pay for treatments abroad, including surgeries.

Since 2001, when the Tax Code entered into force, the amount of up to 1,000 manat ($ 588) of the cost of treatment in the country has been exempt from income tax, as well as up to 2,000 manats ($ 1,177) of the amount of material. assistance, allowances to pay for treatment abroad.

In view of the rising prices in the medical field, as well as the existing prices for surgical operations, it has been proposed to increase these amounts to 10,000 manat ($ 5,882) and 40,000 manat ($ 23,539), respectively.

Follow us on twitter @AzerNewsAz

Source link

Comments are closed.