Application of 1% tax by banks and postal services for withdrawal of money from bank accounts by individual entrepreneurs and legal entities is envisaged in the amendment to the Tax Codex aimed at restricting withdrawal of cash from banks.
Tax Minister Fazil Mammadov told at today’s meeting of Milli Majlis (Azerbaijani Parliament) Committee for Economic Policy, Industry and Entrepreneurship.
The minister told that practice of simplification of operations is also reflected in legislation of France, Italy, Czech Republic, Slovakia and other countries. According to him, this amendment will support non-cash transactions, improvement of financial conditions in banks, maintenance of liquidity, regulation of monetary turnover, legalization of salaries and other payments, and as a result improvement of international rating of the country.
report.az