The Ministry of Taxes of Azerbaijan is developing a comprehensive approach to the introduction of new standards for value added tax to retail trade.
According to the Chief of the Tax Policy and Strategic Research Department Samira Musayeva, VAT should be differentiated, taking into account the sale of products of daily necessities and other categories of goods - that is a decision should be taken, which will not reduce the budget revenues and, at the same time, will not create barriers for entrepreneurs.
"The Ministry believes that this measure will promote the development of trade, as well as affect the incentives for non-cash payments and ensure the transparency of the turnover in trade and services," she said.
She recalled that on 1 January 2011, following the entry into force of the Tax Code, income tax was reduced from 27% to 20% and VAT - from 20% to 18%. --17D-
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