It is planned to decrease tax rates in order to encourage non-cash payments in Azerbaijan, the country’s Deputy Taxes Minister Ilkin Valiyev said.
“Encouraging non-cash payments and limiting cash payments will lead to a rise in the number of POS-terminals and to the transparency in the payment of taxes”, said Valiyev. “We have already had a few suggestions in connection with the expansion of non-cash payments”.
“One of these offers envisages that any payment exceeding 1,000 manats a day must be carried out in non-cash method”, he noted. “Moreover, we have offered to reduce the rate of VAT or any other tax in order to encourage non-cash payments”.
The deputy minister added that these offers were at the stage of discussion. (Trend/Business World Magazine)