Tax & Legal Update Legislative Update Newsletter - June, 2020

On June 2nd 2020, President of the Republic of Azerbaijan approved amendments to the “Tax Code” and the “Law on Social Insurance”. Temporary Tax Regime is a set of temporary tax calculation and reporting rules applicable to all or part of entrepreneurial subjects during significant change of economic situate due to natural disasters, epidemics, ecological and other disasters and global processes. 

In general, package of the amendments could be segregated to following main area:

1. Tax concessions for the industries negatively affected by coronavirus

2. Tax concessions for all microbusinesses;

3. Tax concessions for all businesses;

4. Social insurance concessions.

More detailed information can be found in the attached PDF file.