By Basti Mammad

Copyright trend

BAKU, Azerbaijan, September 22. Amendments to
Azerbaijan’s Tax Code concerning tax control in markets, introduced
at the end of last year, will come into force on October 1,
Trend reports via the
country’s State Tax Service.

According to the amendments, tenants will only be able to
operate in markets after registering their leased premises with the
tax authority. This obligation is imposed on market owners.

In addition, when using real estate in markets for business
purposes, information about its registration with the tax
authority, i.e., information indicating the name of the taxpayer
and the taxpayer identification number, must be posted at the
entrance to the business facility.

In accordance with the new legislative requirements, market
owners are required to submit quarterly information forms to the
tax authorities on taxpayers whose lease agreements have been
terminated, those who have ceased operations, and those who
continue to operate. The amendments do not affect agricultural
markets and agricultural cooperative markets.

Furthermore, market owners must ensure that unregistered
business entities and their tenants are registered for tax purposes
within six months of October 1.

The changes are meant to stop illegal business, make accounting
more disciplined, and crack down on unregistered activities in
markets. This, in turn, will help make rent payments official and
legalize the activities of market owners.

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