TODAY.AZ / Business

Tax changes due in 2006

05 September 2005 [09:11] - TODAY.AZ
Rate of profit tax may be reduced by 4%. Thus, it may be decreased from 24% to 20%, Azer Bayramov, the deputy Minister of Finance told Trend.
Bayramov also noted that some changes may be injected in the scheme of income tax. The income liable to tax on 35% maximal rate amounts 3 million manats. The Finance Ministry proposes to increase it up to 5 million manats.

According to Bayramov, the government is completing the issue on unification of changes and supplements into the Tax Code. All changes in fiscal policy will be taken into consideration in the changes to the code.


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