Azerbaijan introduces e-commerce taxation and prohibits cash transactions with real estate for over AZN 5,000
Baku, Fineko/abc.az. Today the American Chamber of Commerce (AmCham) in Azerbaijan is holding the second annual conference "Taxation in Azerbaijan: in the name of new tax culture".
At the event Natig Shirinov, the head of the Individuals Registration Department of the Ministry of Taxes of Azerbaijan, informed that the Dept is preparing amendments to the Tax Code.
"The amendments say of stimulation of non-cash payments, in particular taxation of transactions on purchase and sale of real estate, and taxation of e-commerce. The amendments, implying taxation of transactions on purchase and sale of real property, say of the use of cash for transactions of up to AZN 5,000 and mandatory application of non-cash payment in the amount of over AZN 5,000. Besides, the Ministry proposed the amendments on application of taxation of e-commerce which has intensified in Azerbaijan over the last 6-7 years, and about 100 companies enjoy these services,” Shirinov said.
In turn, Parliamentary Economic Policy Committee’s head Ziyad Samedzadeh said that they will receive the amendments in the near future.
If Milli Majlis passes them at the spring session, they will come into force on 1 January 2013.
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