Taxes To Be Cut In Azerbaijan
by Tatiana Smolenskaya, Tax-News.com, Moscow
22 December 2008
Azerbaijan's Ministry of Taxes has announced that it is set to begin considering some changes to the country's corporate income and value-added tax rates next year.
The announcement was made by the country's Deputy Minister of Taxes, Natik Amirov, who explained the intention to lower the profit tax rate by 2% and VAT rate by 1%.
Currently, Azerbaijan levies income tax at a rate of 22%, and VAT at 18%.
The proposals should be ratified during 2009 and be ready for introduction by the beginning of 2010.
Parliament will receive the Azerbaijani government's draft Tax Code amendments in May of next year.
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