15:14 - 28.07.2026

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July 28, Fineko/abc.az. President Ilham Aliyev has approved the draft amendments to the Tax Code, which was adopted by the Milli Majlis on July 13.

According to the report, the amendment envisages creation of an opportunity for representatives of the private sector who do not operate in the oil and gas sector of Azerbaijan to transfer funds from the VAT deposit account to the State Social Protection Fund (SSPF).

The mentioned innovation will be effective from January 1, 2027, for the 4-year period, and its terms and conditions will be determined by the body (institution) established by the relevant executive authority.

The law aims to expand the use of money in VAT deposit accounts, create additional financial sources for fulfilling social obligations, and support taxpayers in the private non-oil/gas sector.