Azerbaijan prepares a tax amnesty
On 1 january in Azerbaijan will begin a tax amnesty, which affect more than 42.000 people. At the briefing the Head of the Tax Crimes Analysis of the Ministry of Taxes Zeynalabdin Mammadzade said that amnesty will be implemented as part of the bill, which is submitted to the plenary session of Parliament. After its adoption will be possible to write off taxes of 44.000 taxpayers, Mammadzade said. According to him, it will stimulate entrepreneurship, support entrepreneurs, and increase economic activity.
Referring to the amount of funds that the state is prepared to delete, Mammadzade called debts of
$624 million manats. With regard to the nature of the debt will be written off the accrued interest and part of the financial sanctions. In January 2017 while paying 30% of the sanctions, 70% will be deleted automatically.
On interest debts will be written off more than 386 million manats, including the debt of the public sector by 125 million manat. Total will be deleted tax penalties of 13,780 taxpayers amounting 234 million manat. The total tax debt in the country is more than 1.5 billion manat. -02D-