From 2017 on, Azerbaijani banks will offer non-cash loans, APA-Economics cited Samira Musayeva, director general of the tax policy and strategic research department of the country’s Ministry of Taxes, as saying on Thursday.
This is according to the law on non-cash transactions, she added.
“Customers can get as much money as they need. If the custom is an individual who is a non-taxpayer, he won’t have to pay any tax when the amount is to be cashed,” Musayeva said, adding. “If the customer is an entrepreneur, then the bank has to deduct 1% simplified tax when the amount is to be cashed.”