List of income tax exemptions and benefits extended in Azerbaijan

President of Azerbaijan Ilham Aliyev has signed a law amending the Tax Code.

According to Report, the list of income tax exemptions and benefits has been expanded.

Thus, starting from February 1, 2023, dividends, discounts (difference arising from the placement of bonds below nominal) and interest income on shares and bonds offered in the regulated market are exempt from income tax for 5 (five) years.

The amendments to the Code will introduce a single taxation mechanism for the interest income of legal entities.