Proposed amendments to the Tax Code have been discussed in the Milli Majlis Committee on Economic Policy, Industry, and Entrepreneurship and recommended for the plenary session.
The new changes will allow private sector representatives not involved in oil and gas to transfer funds from their VAT deposit accounts to the State Social Protection Fund.
Deputy Vugar Bayramov shared on social media that these rules will broaden entrepreneurs' use of deposit accounts and create additional financial resources for social obligations.
Currently, entrepreneurs could not use deposit account funds for social payments. The new amendment eliminates this issue, enabling more efficient use of funds.
If approved, the law will be in effect from January 1, 2027, for a period of 4 years.
