In Azerbaijan, the profit tax rate for small businesses will be reduced to 15%

In Azerbaijan, the profit tax rate for taxpayers operating as small business entities will be reduced from 20% to 15%.

As reported by BAKU.WS with reference to Report, this was announced by Nijat Imanov, head of the main department of the State Tax Service under the Ministry of Economy, at today's session of the Milli Majlis committee on economic policy, industry, and entrepreneurship.

According to him, to receive the benefit, taxpayers must fulfill a number of mandatory conditions: not allow violations in the formalization of labor relations during the calendar year; fully and timely settle tax obligations; and not allow a decrease in taxable turnover by more than 30% compared to the previous period.

"Thus, this support measure will benefit entrepreneurs who comply with the legislation and ensure sustainable operations," N. Imanov emphasized.