“Today the proposed changes to the Tax Code were discussed in the Economic Policy, Industry and Entrepreneurship Committee of the Milli Majlis and were accepted and recommended to the plenary session. According to the changes, starting next year a 75 percent discount will be applied to the income of micro-entrepreneurs with an annual turnover of up to 45,000 manats in various service areas.
Oku.Az Deputy economist Vugar Bayramov reportedly expressed these views on his social media account:
“According to the project, the tax relief will be applied to software development, project design, translation services, research and research field, law, independent auditor, journalistic activity, tourism guidance, evaluation activity, etc.
That is, those who receive a TIN and operate on the basis of a service contract will pay a 5% tax on their income instead of 20% starting in 2025. At the same time, they will not be required to have 3 employees or debts with state insurance. For example, our citizen works as a journalist and receives funds under a service contract, and his monthly income is 3,000 manats. In this case, starting next year you will pay only 150 manats instead of 600 manats. Please note that benefits apply to people working under a service contract.
The new rules are considered a major change in terms of support for micro-entrepreneurs. This can stimulate increased turnover in the aforementioned service areas.”
