The Azerbaijan government has proposed measures to support small- and medium-sized enterprises during the crisis. Providing the measures are approved by Azerbaijan’s parliament (the Milli Majlis) the corporation income tax rate will be cut from 22% to 20%, effective from January 1, 2010.
Announcing the measures, Deputy Tax Minister Natig Amirov said:
“On May 15 the government will present a draft document to be tabled in parliament. Changes to other tax rates are still being discussed. The government has agreed however that on January 1, 2010, profit tax will be cut by a minimum of 2%.”
Among other proposals the government is expected to reduce interest payable on corporation income tax debts to provide SMEs with further support during the crisis. The government is also considering reducing the value-added tax rate from 18% to 17% to boost economic activity, as announced in December 2008.
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