The winnings in lotteries registered at the Financial Markets Supervision House and winning public loans will be brought to tax.
According to the comments of the Ministry of Taxes published in the media, these rules are specified in the amendments to the Tax Code, which entered into force in 2017.
From now on, winners in lotteries, other competitions and contests will have to pay 10% of the winning amount.
If the winning bidder is a legal entity or a private entrepreneur, he will have to pay the tax himself, and if the winning is a non-resident, the tax will be deducted by the bank or the post office, where the payments will be carried out.
This tax must be paid not later than the 20th day of the next reporting month after the gain. -----71D
Economics
-
The Azerbaijani government is determined to stabilize oil production. This intention was announced by President Ilham Aliyev earlier this year. "Work is underway to stabilize oil production, and I believe we will see results in the near future. We need stable oil production, and this task has been set before the investors," he remarked during one of his speeches.
-
Representatives from the World Bank, Azerbaijan’s Ministry of Digital Development and Transport, and the leadership of the Baku International Sea Trade Port (BISTP) convened in Alat on Monday to discuss the implementation of the second phase of the port’s development, the largest on the Caspian Sea.
-
Investments in Azerbaijan's fixed capital totaled 15.91 billion manats ($9.36 billion) in the first 11 months of 2024, marking a 3.8% decline compared to the same period last year, official data showed on Thursday by the State Statistics Committee.
-
Discussions surrounding the implementation of a landmark renewable energy project on the Absheron Peninsula took center stage at a December 11 meeting hosted by Azerbaijan’s State Agency for Renewable Energy (AREA) under the Ministry of Energy. The project, initiated through a memorandum of understanding signed on March 1 in Baku, involves collaboration with the Spanish engineering giant Elecnor.
Leave a review