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What reports must a fixed tax payer submit?
What reports must a fixed tax payer submit?
Although individuals who receive a “Receipt for the Payment of a Fixed Amount under the Simplified Tax” are not required to submit a tax declaration, they must report their mandatory state social insurance contributions to the tax authorities.
For example, a taxpayer operating individually in Baku must pay 30 manats to the tax authorities and, in addition, make a mandatory state social insurance contribution amounting to 20% of the minimum wage, which is 36 manats (180 × 20%). Furthermore, they must submit a social insurance report to the tax authorities no later than the 20th day of the month following the reporting quarter. Most individuals who receive a “Receipt for the Payment of a Fixed Amount under the Simplified Tax” require a specific place to carry out their activities.
For example, individuals engaged in activities such as barbering, tailoring, shoe repair, watch repair, and similar services must sign a lease agreement if they use an office. If the landlord is a private individual or a sole proprietor, a 14% withholding tax must be deducted at the source and paid to the state budget. Therefore, in such cases, the person who has received the “Receipt for the Payment of a Fixed Amount under the Simplified Tax” must also submit a Withholding Tax Declaration to the tax authorities no later than the 20th day of the month following the reporting quarter.
Although individuals who receive a “Receipt for the Payment of a Fixed Amount under the Simplified Tax” are not required to submit a tax declaration, they must report their mandatory state social insurance contributions to the tax authorities.
For example, a taxpayer operating individually in Baku must pay 30 manats to the tax authorities and, in addition, make a mandatory state social insurance contribution amounting to 20% of the minimum wage, which is 36 manats (180 × 20%). Furthermore, they must submit a social insurance report to the tax authorities no later than the 20th day of the month following the reporting quarter. Most individuals who receive a “Receipt for the Payment of a Fixed Amount under the Simplified Tax” require a specific place to carry out their activities.
For example, individuals engaged in activities such as barbering, tailoring, shoe repair, watch repair, and similar services must sign a lease agreement if they use an office. If the landlord is a private individual or a sole proprietor, a 14% withholding tax must be deducted at the source and paid to the state budget. Therefore, in such cases, the person who has received the “Receipt for the Payment of a Fixed Amount under the Simplified Tax” must also submit a Withholding Tax Declaration to the tax authorities no later than the 20th day of the month following the reporting quarter.