BAKU, Azerbaijan, Aug.25
By Sadraddin Aghjayev - Trend:
Digitalization projects of Azerbaijani tax authorities contribute to the development of non-cash payments, the Ministry of Economy told Trend on Aug.25.
According to the ministry, one of the main directions of expanding the use of digital technologies, which play an important role in ensuring the transition to cashless payments, is the introduction of new generation cash registers.
"Expansion of the use of new generation cash registers is already yielding effective results, while the process of transparent declaration of trade turnover is accelerating," the ministry said.
From January 1, 2019, tax incentives have been applied to legal entities and individuals working in the field of trade and catering, in proportion to the amount of non-cash payments, the ministry reminded.
According to the Tax Code, since the reporting date the amount of the profit (income) tax of legal entities and individual entrepreneurs engaged in commercial and (or) public activities, imposed on goods sold at retail, has been reduced by 25 percent for a period of three years, added the ministry.
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