BAKU, Azerbaijan, July 28. Some private companies will be able to direct part of the assets from their VAT deposit accounts to the State Social Protection Fund (SSPF) in Azerbaijan.

President of the Republic of Azerbaijan Ilham Aliyev has approved the relevant law on amendments to the Tax Code. The document text was published on the official website of the President of Azerbaijan.

According to the document, the new mechanism will be applied for a period of 4 years from January 1, 2027. The rules and conditions for the application of the mechanism will be approved by the body determined by the relevant executive authority.

The law will come into force on January 1, 2027.