Azerbaijan Tax Ministry Announces Approval of Amendments to Tax Code

The Azerbaijani Ministry of Taxes Dec. 27, 2024, announced the approval of the law amending the tax code. Amendments to the law include: 1) measures providing tax incentives and tax concessions within the framework of public-private sector partnership to promote entrepreneurial activity; 2) exempting trucks, trailers, and semi-trailers of nonresident companies from road tax for two years, starting Jan. 1, 2025; 3) providing a 75 percent income tax relief to micro-entrepreneurs in particular industries without subjecting them to any conditions; and 4) measures requiring enterprises which are part of MNEs to notify the tax authority of their status, under penalty ...