Azerbaijani MP Gudrat Hasanquliyev has proposed lifting the current restriction on cashing out sums exceeding 30,000 manats, arguing that such a measure would both reflect social realities and improve tax transparency.
Speaking at a joint session of the parliamentary committees on Legal Policy and State Building, Defense and Security, Anti-Corruption, Human Rights, and Regional Affairs, held to discuss the 2026 state budget package, Hasanquliyev said both individuals and businesses are already finding alternative – and costly – ways to withdraw large sums.
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“People and companies are using various intermediary firms to cash out funds, losing around 14 percent of the amount in commissions,” the MP explained.
“The tax authorities have no control over these shadow transactions. I propose allowing direct cash withdrawals, subject to a 4 percent tax. This would be a more transparent and realistic solution.”
Hasanquliyev noted that the restriction does not suit local customs or the financial habits of Azerbaijani society.
“In Europe, a parent lends 100 euros to a child as a loan; in our culture, a parent spends money for the benefit of their family and grandchildren. It’s part of who we are,” he added, arguing that cash flexibility better reflects social norms and should be legally accommodated.
If implemented, the proposal could significantly change the cash circulation framework introduced in recent years to curb the shadow economy, though it would also require balancing tax compliance and anti-money laundering safeguards.
