Azerbaijan: Tax Withholding On Income from Bank Deposits Needs To Take Into Account the Relevant Rebate

10 January, 2015

Senior officials of Ministry of Taxes and banks in Azerbaijan held a meeting on January 9. It was decided in the meeting that the tax withholding on incomes from bank deposits will be applied on the interests charged by 1 January 2015 taking into account the relevant rebate which is AZN 500 per year. This will be applied on income tax withheld on the interests paid for the individuals’ deposits by banks and lending institutions.

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