Azerbaijani Parliament adopts amendments to Tax Code
November 18, 2021 15:54 (UTC + 04: 00)
The Milli Mejlis (Azerbaijani Parliament) approved at first reading the amendments to the Tax Code, Tendency reported on November 18.
According to the information, the main orientations of the amendments to the Code are to encourage entrepreneurial activity, to broaden the tax base, to reduce the financial and fiscal burden of the population thanks to social benefits, to improve tax accounting, taxation and tax control mechanisms, to provide tax incentives to business entities, etc.
It is noted that one of the proposals to reduce the tax burden of the population through social benefits is the exemption from income tax of material assistance up to 10,000 manat ($ 5,884 ), granted to members of the family of martyrs and to servicemen who have been disabled in the course of military operations for the freedom, sovereignty and territorial integrity of Azerbaijan.
As an extension of the attention and attention paid to members of the families of martyrs and servicemen affected with disabilities in the context of military operations carried out for the freedom, sovereignty and territorial integrity of Azerbaijan, it is proposed to exempt from income tax material assistance up to 10,000 manat provided to individuals belonging to this category, regardless of its destination.
Another amendment to the income tax is an exemption from this tax of up to 10,000 manats of a lump sum, material assistance to pay for treatments in the country, including surgeries, as well as up to 40,000 manats ($ 23,536) for material assistance. , a lump sum to pay for medical treatment abroad, including surgery.
Since 2001 when the Tax Code came into effect, the cost of processing up to 1,000 manat ($ 588) was exempt from income tax and up to 2,000 manat ($ 1,176) – help materials and services 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 from 1,000 manat to 10,000 manat, and the treatments abroad, including payment for surgical operations, from 2,000 manat to 40,000 manat.
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