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State Councilor Vahid Akhundov: â€˜Tax rates on non-cash payments may be reduced sharply in Azerbaijanâ€™

State Councilor Vahid Akhundov: â€˜Tax rates on non-cash payments may be reduced sharply in Azerbaijanâ€™

17 April 2013 07:50 (UTC +04:00)

To him, the proposals developed in connection with stimulation of non-cash payments in Azerbaijan, have already been submitted to the Presidential Administration.

‘We are working on different mechanisms connected with the popularization of non-cash payments in the country. It is not a simple matter. But we must do it’, he noted.

As to limitation of transactions with cash amounts, Akhundov says that these, limitations should not be so rigid: ‘It is necessary to create an environment gradually. But over time, there will be no need for such measures. Business itself will switch to non-cash payments’.

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