09 Jul 2023

HOW SHOULD THE TAX AND SOCIAL PAYMENTS OF THE ACCOUNTING SERVICE COMPANY BE CALCULATED?

If the said activity is carried out as an income tax payer, income tax is calculated at a rate of 20 percent and paid to the state budget from the remaining amount after deducting the expenses incurred in connection with the receipt of this income.

It should also be taken into account that 75 percent of income from business activities of individual entrepreneurs - microentrepreneurs who keep records of income and expenses in the manner prescribed by the Tax Code - is exempt from income tax. If you are a micro-entrepreneur (persons with an average number of employees from 1 to 10 people and an annual income of no more than 200 thousand manats), you can receive a 75 percent tax discount by keeping records of income and expenses. .

Also 50 percent of the minimum monthly wage for business activities in the construction sector, 25 percent in other areas, 100 percent in Baku, 90 percent in the cities of Sumgait and Ganja, 80 percent in other cities, 60 percent in administrative-territorial units and settlements. which are the administrative centers of district administrative-territorial units. In rural areas, 50 percent of the compulsory social insurance contribution must be calculated and paid every month.

Reason: Articles 33, 34, 101.3, 102.1.30, 218.5.10, 218.6.2 of the Tax Code, Law of the Azerbaijan Republic No. 250-IQ “On Social Insurance”.