Azerbaijan not planning to revoke tax benefits, says official

There are no plans to revoke tax incentives in Azerbaijan, Deputy Minister of Economy Sahib Alakbarov said, Report informs.

Speaking at a joint meeting of the parliamentary committees held today, Alakbarov noted that tax benefits worldwide, including in Azerbaijan, are usually set for a limited period.

"In Azerbaijan, the income tax exemption was originally set for seven years. That period has now ended. A new type of tax benefit is being introduced. Previously, people earning up to 2,500 manats ($1,470) paid 14% income tax, but starting next year this will be reduced to 3%. There are quite a lot of people in the country with salaries up to 2,500 manat, so 3% is not a significant burden. That's why it is important to expand awareness about this measure," he said.