Personal income on bank deposits again exempted from income tax

Dividends paid to shareholders of the banks, as well as interest on deposits for a year are exempt from income tax.

According to the chairman of the parliamentary committee on economic policy Ziyad Samadzadeh, who submitted to the Milli Majlis the law "On the income tax exemption of interest paid by banks and other lending institutions to individual depositors" for MPs' debate, the banks accumulate more than 4 bn belonging to individuals.

"Even at the rate of 11% it means almost half of the annual income. It turns out that the government gave the public about 60-70 million manat for the New Year," the economist said. - 17D-


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