The Ministry of Taxes of Azerbaijan considers the current tax rate of 14% on the income of natural persons from real estate rental effective.
"Yesterday several media spread information that does not correspond to reality, saying that the ministry appealed to the government with a proposal to increase this rate to 22%. According to article 124 of the Tax Code, the tax rate on the income of natural persons from the rental of real estate is 14%, and changes in this regard are not expected. We did not address a proposal on changing it, because we do not see any reason for it," said the report (http://www.taxes.gov.az/modul.php?name=metbuat&bolme=pressreliz&pid=1254&lang). --17D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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