In 2016, Due to Amendments to Tax Code Budget Increased by 316 Million AZN

The following year, the tax base will expand by 316 million AZN, reporters were told by the First Deputy Tax Minister Natig Amirov. This can be achieved through amendments to the Tax Code, which will come into force on 1 January.

As expected, the important point is the profit capacity of payers of simplified tax regardless of the size of their turnover, by merchants and entrepreneurs in catering. Recall rate in this business segment was defined at the meeting of the Milli Majlis of October 20, at 6% of the turnover for the first category, and 8% - for the second category. While the residents of the capital pay 4%, people of the regions pay 2% in the framework of the simplified tax.

Also rose penalties in this sector regarding the violation of the rules of cash payments. For example, the penalty for violation of these rules in the first case in a calendar year will be around 2 thousand AZN (currently 400 AZN). The second pay will be 4,000 AZN (currently 800) and the third time – 6,000 AZN (currently 1.2 thousand AZN).

A special article of amendment is 10% tax on winnings in sports gambling.

Changes also regarded simplified tax for those who are engaged in housing construction. The basic tax amount is 45 manat (currently AZN 10) per square meter, but it will be changed in accordance with the zonal coefficients in the cities and regions of the country. --17D-