12:37 - 2.11.2023

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November 2, Fineko/abc.az. The transition from micro-entrepreneurship to another category of entrepreneurship will be stimulated.

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.

Currently, 75% of the income of individual entrepreneurs who are subjects of micro-entrepreneurship, who keep records of income and expenses, are exempt from income tax.

According to the draft, a microenterprise entity with average monthly number of employees of at least 3 people in the corresponding year and having no arrears in contributions to mandatory state social insurance, the plan envisages exemption from income tax of 75% of the income of individual entrepreneurs from entrepreneurial activity.