Starting next year, 75% of the income earned by individual micro-entrepreneurs operating in certain service sectors, whose annual turnover does not exceed AZN 45,000, will be exempt from taxation without any conditions (such as having no more than three employees and compulsory state social insurance), this is reflected in the amendments to the Tax Code approved by President Ilham Aliyev, SİA reports.
The sectors covered include:
Software development
Project design and decoration services
Translation services
Advertising services
Research and analysis activities
Services in science, education, culture, and sports
Legal, independent audit, accounting, and financial consulting services
Journalism
Market research
Valuation activities
Courier services, excluding cargo transportation with vehicles
Tourism guiding
Export services
Recall that starting from January 1 of this year, under Article 102.1.30 of the Tax Code, micro-entrepreneurs whose average monthly number of employees does not exceed three and who have no mandatory state social insurance liabilities are exempt from income tax on 75% of their income.
The proposed tax exemptions will apply only to individual entrepreneurs. Legal entities must continue to meet the conditions (such as having at least three employees and no outstanding state social insurance liabilities) to benefit from these exemptions.
If the law is adopted, it will come into force on January 1, 2025.
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