16:37 - 22.04.2020

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April 22, Fineko/abc.az. Certain benefits have been suggested for taxpayers working in spheres affected by the coronavirus pandemic.

ABC.AZ reports that this is stated in the Economy Ministry-prepared Mechanism of tax incentives & vacations for business entities (including small and medium-sized businesses) working in pandemic-affected spheres.

A number of other benefits can be provided on spheres of economic activity on which the coronavirus pandemic affects negatively.

These benefits include reduction of the tax and administrative burden on taxpayers:

- reduction from 14% to 7% of the personal tax rate charged on the source of payment for real estate rentals;

- exemption from current taxes for 1 year and issuance of certificates on current tax payments, extension of the deadline for paying the last tax in 2019 until 1 September 2020;

- extension of the deadline for paying income tax and tax (calculated for the previous year) on the property of taxpayers who are not micro-enterprise entities until 1 September 2020;

- deferred interest accrual on unpaid taxes, mandatory state social insurance and unemployment insurance premiums from 1 April to 1 January 2021;

- extension of the right of VAT-payer persons engaged in catering activities for choice of simplified tax method for 2020 from 20 April to 1 September 2020.