Beauty salons and hairdressers in Azerbaijan to receive tax benefits
In Azerbaijan, entrepreneurs in the beauty sector will be able to get back 50% of the VAT charged on the services of beauty salons and hairdressers.
As Report informs, this was stated by Nijat Imanov, head of the main department of the State Tax Service, at today's meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship.
According to him, initiatives concerning the introduction of an incentive mechanism for value added tax for chain structures legally operating in the hairdressing and beauty salon segment were put forward and taken into account:
"Thus, 50% of the accrued VAT amount for the services provided will be compensated to entrepreneurs. In addition, it is planned to introduce an alternative simplified tax regime for those areas of entrepreneurial activity where, for a number of reasons, there are difficulties with documenting expenses. Entities that are unable to fully document their transactions will also receive the right to apply the simplified tax regime with a tax rate of 8%."
