A proposal has been put forward to halve interest charged for late payment of tax liabilities.
“Operative Information Center-OMM” reports that Orkhan Nazarli, head of the State Tax Service under the Ministry of Economy, made the remarks at a meeting of the Milli Majlis (National Assembly) Committee on Economic Policy, Industry and Entrepreneurship held today.
He said that encouraging export-oriented activity is also among the priorities of the proposed amendments:
“The introduction of additional tax incentives for taxpayers engaged in export activities in this sector is proposed. The incentives would cover exports of services as well as goods. The changes are intended to expand local businesses’ access to international markets and strengthen the country’s export potential.”
Nazarli noted that another significant change under consideration is to halve the interest charged for each day that tax liabilities remain unpaid after the deadline: “In addition, further incentives are planned to encourage the payment of financial penalties within a shorter period.”
