12:11 - 2.11.2023
November 2, Fineko/abc.az. In order to optimize the amount of social insurance contributions paid for themselves by individuals who are subjects of micro-entrepreneurship, it is proposed to deduct 25% of the social insurance contributions paid from income tax and STS.
ABC.AZ reports that this is reflected in Azerbaijan’s State Budget Package for 2024, submitted for today’s discussion at a meeting of the Parliamentary Committee on Economic Policy, Industry & Entrepreneurship.
In order to subsidize the burden of social insurance of microenterprise entities at the expense of the State Budget, the deduction of 25% of the amount of social insurance contributions paid by them from the amount of tax payable to the State Budget will be manifestation of state support for microenterprise entities covering large masses of the population within socio-economic policy.
