Income Benefits Allow Citizens with Average Incomes to Save 120 Million Manat per Year
From January 1, according to the amendments to the Tax Code, the income tax will be exempted of the income of citizens in single living wage, if the monthly income of an individual in the main workplace is up to 2.5 thousand manats (currently while 250 manats).
This, according to the calculations of the Ministry of Taxes will allow the working inhabitants of the country to save at least 120 million manats per year. According to the tax officers, income tax incentives will cover over 500 thousand people, which will allow them to increase their monthly income by an average of 3-9%. --17D-
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