BAKU, Azerbaijan, September 22. Amendments to Azerbaijan's Tax Code concerning tax control in markets, introduced at the end of last year, will come into force on October 1, Trend reports via the country's State Tax Service.
According to the amendments, tenants will only be able to operate in markets after registering their leased premises with the tax authority. This obligation is imposed on market owners.
In addition, when using real estate in markets for business purposes, information about its registration with the tax authority, i.e., information indicating the name of the taxpayer and the taxpayer identification number, must be posted at the entrance to the business facility.
In accordance with the new legislative requirements, market owners are required to submit quarterly information forms to the tax authorities on taxpayers whose lease agreements have been terminated, those who have ceased operations, and those who continue to operate. The amendments do not affect agricultural markets and agricultural cooperative markets.
Furthermore, market owners must ensure that unregistered business entities and their tenants are registered for tax purposes within six months of October 1.
The changes are meant to stop illegal business, make accounting more disciplined, and crack down on unregistered activities in markets. This, in turn, will help make rent payments official and legalize the activities of market owners.
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