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-