12:28 - 10.12.2024

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December 10, Fineko/abc.az. Starting from next month, entrepreneurs renting out land plots will not pay VAT, ABC.AZ informs, quoting MP Aydin Huseynov.

He noted that this change to the Tax Code is stimulating and will lead to lower costs and an increase in income for entrepreneurs.

Currently, an 18% tax is also calculated when determining the rent for a land plot. Payment of this amount is made by agreement of the parties. Since the VAT benefit will be applied from the new year, this may lead to a reduction in rent.

"All this is a support for business," the MP added.

Huseynov noted that as finances increase, entrepreneurs will be able to expand their business and create new jobs. This will have positive impact on development of the economy.