From the 1st of February tax breaks on interest income from deposits of individuals in banks, dividends on investment securities, a discount (the difference resulting from the placement of bonds below nominal) and interest incomes will be applied for three years.
Appropriate amendments to the Tax Code were introduced in Parliament today.
According to experts, this step is being taken to counteract the withdrawal of deposits from banks by the population, stimulate the growth of deposits in banks, increase demand for investment securities.
Under current rules in force since 2015, interest income above 500 manat on bank deposits of the population is subject to a 10% tax.
Since 2011, dividends on securities of financial and non-financial companies are also brought to a 10% tax. --08D--
Economics
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Данная инициатива направлена на цифровизацию процессов управления в сфере безопасности пищевых продуктов в Азербайджане, создание более эффективной и прозрачной системы за счет применения современных технологий.
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Azerbaijan’s President Ilham Aliyev has signed a decree confirming an agreement between the governments of Azerbaijan and Russia aimed at boosting transit cargo shipments along the "North-South" international transport corridor.
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Consumer prices in Azerbaijan saw an overall increase of 2.1% in January 2025 compared to the previous month, according to the State Statistical Committee's latest report. Prices for food products rose by 2.4%, with vegetables and fruits among the most significant contributors, marking a 3.7% and 5.6% increase respectively. Non-food products and services saw a more modest rise of 1.1%, with the transportation sector and housing services experiencing slight hikes.
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On February 11, Azerbaijan opened a trade house in Punjab (northeastern Pakistan), an event described as "significant for strengthening bilateral relations between Azerbaijan and Pakistan" by Pakistani media. The opening ceremony, which involved the Finance Minister of Punjab, Mian Mujtaba Shuja-ur-Rehman, was attended by officials and marked an important step in economic collaboration.
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