President signs revised Tax Code into law
President Ilham Aliyev has recently signed off on amendments to Azerbaijan’s Tax Code, as reported by local news outlet Report. The changes are expected to have a significant impact on the country’s tax system.
The approved amendments aim to simplify tax procedures and create a more transparent and efficient tax system. These changes will help improve tax compliance and promote economic development in Azerbaijan.
One of the key amendments includes the introduction of new tax incentives for businesses, such as reduced tax rates and exemptions for certain industries. This is expected to attract more foreign investment and stimulate growth in key sectors of the economy.
Additionally, the amendments aim to strengthen tax administration and enforcement measures to combat tax evasion and ensure that all businesses and individuals pay their fair share of taxes.
Overall, the changes to the Tax Code are part of President Aliyev’s efforts to modernize Azerbaijan’s economy and create a more business-friendly environment. The government is committed to implementing further reforms to support economic growth and development in the country.
