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When is income tax payable on the sale of printed materials?
Can we remain simplified tax taxpayers if income from the retail sale of printed materials to the public exceeds AZN 200,000 over a consecutive 12-month period?
The State Tax Service under the Ministry of Economy stated that Article 218.1 of the Tax Code defines the categories of persons eligible to pay simplified tax.
Taking into account the provisions of Chapter XI of the Tax Code, persons who are not registered for VAT purposes and whose taxable transaction volume does not exceed AZN 200,000 in any month of a consecutive 12-month period are eligible to apply the simplified tax regime. Persons registered for VAT purposes cannot apply the simplified tax regime and must operate as income (profit) taxpayers.
The Tax Service also clarified that persons whose VAT-exempt transaction volume exceeds AZN 200,000 in any month of a consecutive 12-month period are not required to register for VAT purposes. However, persons whose taxable transaction volume exceeds AZN 200,000 in any month of such a period are not eligible to apply the simplified tax regime and must operate as income (profit) taxpayers.
Legal basis: Articles 155, 164 and 218 of the Tax Code.
Can we remain simplified tax taxpayers if income from the retail sale of printed materials to the public exceeds AZN 200,000 over a consecutive 12-month period?
The State Tax Service under the Ministry of Economy stated that Article 218.1 of the Tax Code defines the categories of persons eligible to pay simplified tax.
Taking into account the provisions of Chapter XI of the Tax Code, persons who are not registered for VAT purposes and whose taxable transaction volume does not exceed AZN 200,000 in any month of a consecutive 12-month period are eligible to apply the simplified tax regime. Persons registered for VAT purposes cannot apply the simplified tax regime and must operate as income (profit) taxpayers.
The Tax Service also clarified that persons whose VAT-exempt transaction volume exceeds AZN 200,000 in any month of a consecutive 12-month period are not required to register for VAT purposes. However, persons whose taxable transaction volume exceeds AZN 200,000 in any month of such a period are not eligible to apply the simplified tax regime and must operate as income (profit) taxpayers.
Legal basis: Articles 155, 164 and 218 of the Tax Code.