Azerbaijan, Baku, Dec. 12 / Trend A. Akhundov /
The bill on amendments to the tax code has been submitted to the Azerbaijani presidential administration, Azerbaijani Minister of Taxes Fazil Mammadov told Trend on Wednesday.
"This bill has been approved and it is at the presidential administration," he said.
Deputy Minister for Taxes Sahib Alakbarov told Trend earlier that the bill will be submitted to the Azerbaijani Parliament by late 2012. He said it involves a lot of changes that will be in the interest of taxpayers.
"The changes are aimed at improving the business area and creating conditions to encourage cashless payments," he said. "This is one of the most important issues for us as the tax base must be expanded and at the same time protect the rights of citizens. We must maximally take cash out of turnover. The current situation does not meet the desired level. The legislation must be first amended."
He added the tax rate may be also reduced.
The tax legislation in Azerbaijan is being improved all the time. Amendments to the tax code have been made separately from the state budget since 2008. This simplifies the process of considering and approving the budget forecasts and allows taxpayers to become familiar with expected changes. The draft amendments to the tax legislation were to be submitted to the Parliament till May 15. The discussion dragged on due to the diverging positions on a number of proposed changes.
