Azerbaijani banks may be exempted from income tax

Baku. 10 May. REPORT.AZ/ Banking organizations in Azerbaijan may be exempted from income tax. Report informs, Minister of Taxes Fazil Mammadov told reporters: "Banks have raised this issue, which can be considered by the government."

F.Mammadov also touched upon the issue of tax evasion, noting that this happens in all spheres, particularly the large supermarket chains. The minister stressed that implementation of having any tax benefits is not expected yet.

The minister recalled that agricultural producers were totally exempted from tax: "98% of this production is sold on the market. They do not charge any simplified tax or VAT. In addition, works on the transition to the electronic payment system are underway."