Azerbaijani President rejects parliament bill on imposing 20% tax on cash outflows

Baku, February 10, AZERTAC “Having considered numerous requests from entrepreneurs and investors, President Ilham Aliyev has rejected a Milli Majlis-proposed bill on amendments to the Law of the Republic of Azerbaijan On Currency Regulation,” according to the Service of the Azerbaijani President`s Assistant for Economic Reforms. Under the parliament`s proposal, resident and non-resident individuals and legal entities in Azerbaijan would have been imposed a 20 per cent tax on taking money out of the country.