Profit tax in Azerbaijan planned to be reduced by 75%

In accordance with the Action Plan approved by the order of the Cabinet of Ministers of April 4, 2020, a package of proposals for providing tax benefits and vacations to business entities working in areas affected by the pandemic has been announced. According to the head of the Main Tax Policy Directorate of the State Tax Service under the Ministry of Economy, Samira Musaeva, the bill provides for the complete exemption of spheres affected by the pandemic from paying property and land taxes during 2020 and reducing income tax by 75%. Of the types of entrepreneurial activity that suffered from the pandemic, these are entities that provide both long-distance and inter-district passenger services in the country, hotels, hostels. In addition, as an example, you can show the business entities operating in the territory of the country that carries out social activities, entertainment, recreation, restaurants, cinemas, museums.

Source: Day.az