February 9, the Standing Committee on Budget, Financial and Economic Management of the National Assembly convened a sitting headed by the Chair of the Committee Artur Harutyunyan.

Chairman of the State Revenue Committee David Poghosyan submitted to the Committee the drafts "On the Establishment of Tax Privileges in the Aftermath of War", "On Making Amendments and Addenda to the Law “On Profit Tax”", “On Making Amendments and Addenda to the Law “On Income Tax””, "On Making Amendments and Addenda to the Law on Value Added Tax" and "On Making Amendments to the Law" On Making Addenda and Amendments to the NKR Law on Value Added Tax ", "On Making an Amendment to the Law ՞Օn Presumptive Payments"”, "On Making Amendments and Addenda to the Law “On Patent Fees"”, "On Amending the Law “On the Use of Cash Registers"”, "On Making Addenda and Amendments to the Law “On Funded Pensions"”, "On Making an Amendment to the Law “On Taxes"”, Revised version of the Law on Allocations (Contributions for Road Construction, Repair and Maintenance) and the amended version of the draft law on the establishment of privileges for tax and other mandatory payments for the second reading.

An additional offer is included in the project package to provide a provision in the law "On Taxes", according to which 50% of taxes paid by organizations and individual entrepreneurs will be used to reimburse loans received by them before October 1, 2020 and percentage paid for their services. Returns will be made on a quarterly or semi-annual basis for a period of three years. The provisions of the draft will not apply to credit organizations, banks, minerals, electricity and natural gas transmission entities.

The establishment of tax benefits due to the hostilities is also proposed in the draft law:

• to extend deadlines for submission and payment of property tax and land tax calculations until February 20, 2021
• to cancel liabilities on property and land tax on real estate and movable property and land in the occupied territories of Azerbaijan belonging to organizations and individuals

The Chairman of the State Revenue Committee mentioned that about 4,600 taxpayers will actually benefit the tax privileges in the amount of 10.7 billion dollars.

Questions have been asked by the members of the Committee, which have clearly been explained.

The Commission endorsed in favor of the proposed project by a ratio of 6 votes in favor.

The Head of the National Assembly, parliamentarians as well as government responsibles were present at the sitting.