Confederation of Azerbaijani entrepreneurs speaks for reducing VAT and income tax

The due information has been provided by the president of the confederation Alekper Mamedov.

He noted that some of the proposals introduced to the government last year were rejected.

"Last year we presented our proposals on amendments and alterations to the Tax Code. Some of them were rejected, others were not. Yet, we again insist on the adoption of the rejected proposals", he announced.

The confederation speaks for reduction of VAT and income tax, exclusion of investment funds from income, raising the term of amortization and others.

Thus, according to the researches of the Confederation, VAT should be reduced from 18% down to 14%, while income tax from 22% down to 18%.

"We are for expansion of the list of VAT-free goods. For example, imported seeds, mechanisms and new technologies can be released from VAT".

President of the Confederation announced that the number of registered entrepreneurial establishments was 79,000 last year, against 280,000 individuals.

/APA/