Azernews.Az

By Trend

The Milli Mejlis (Azerbaijani Parliament) approved amendments to the Tax Code in the first reading, Trend reports on Nov. 18.

According to the information, the main directions of amendments to the Code are to encourage entrepreneurial activity, expand the tax base, reduce the financial and tax burden of the population through social benefits, improve tax accounting, taxation and tax control mechanisms, provide tax incentives to business entities, etc.

It is noted that one of the proposals to reduce the tax burden of the population through social benefits is the exemption from income tax of material assistance up to 10,000 manats ($5,884), provided to members of the family of martyrs and military personnel who have been assigned disabilities in connection with military operations for the freedom, sovereignty and territorial integrity of Azerbaijan.

As a continuation of the attention and care shown to members of the families of martyrs and servicemen who have been assigned disabilities in connection with the military operations carried out for the freedom, sovereignty and territorial integrity of Azerbaijan, it is proposed to exempt from income tax material assistance up to 10,000 manats provided to individuals belonging to this category, regardless of its intended purpose.