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Details unveiled on tax incentives applied to microentrepreneurs

08.05.2020,16:01


May 8, Fineko/abc.az. The details of the temporary tax regime applied to the entities of micro-enterprises have been published.

ABC.AZ reports that the tax regime will be applied in the following spheres:

- providing a 50% discount on simplified tax;

- provision is made for the submission of simplified tax reports and reports on income and property taxes for the 1st and 2nd quarters of 2020 and the provision of tax holidays until 1 September of the current year for the payment of accrued tax to the budget.

The following tax benefits are provided, covering all business entities:

- withdrawal from income without taking into account restrictions of expenses incurred by the taxpayer in accordance with the necessary preventive, including disinfection measures, carried out in order to prevent the outbreak of an epidemic and protect the life and health of the population;

- early exemption from VAT of certain types of products necessary for food and medical needs of the population.