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AMENDMENTS TO THE TAX CODE OF THE REPUBLIC OF AZERBAIJAN


A new amendment has been made to the Tax Code and this amendment was published on June 9, 2022.

The changes are as following according to the law:

  • According to the newly added Article to the Tax Code, 102.1.22-2, dividends, discounts (difference arising from the placement of bonds below face value) and interest income of individuals paid on shares and bonds mass-offered and traded in a regulated market are exempt from income tax for a period of 5 (five) years from February 1, 2023.

  • Witholding tax on interests at the rate of 10% shall be applied only to resident individuals, permanent establishment of a non-resident individual in the Republic of Azerbaijan, non-resident who does not have a permanent establishment in the Republic of Azerbaijan (considering provided exceptions and privileges ). This amendment shall be applied from January 1, 2022.

11 JUN, 2022