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Baku/10.03.23/Turan: For more than a month now, Azerbaijan has been taxing annual interest income paid by local banks and local branches of foreign banks on individual deposits.
The tax is up to 1/10th of a percent of savings.
Of the 25 banks operating in Azerbaijan, only 1 - AFBBank - has decided to temporarily pay the tax itself instead of depositors. The bank has announced a campaign called "We Pay Tax on Your Savings". According to the campaign, the tax on interest for the first year on deposits placed before May 1 will be paid by the bank and not by the depositor.
Note that other 24 banks have not taken any steps in this direction. -0-
Finance
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The State Audit Office has conducted an efficiency audit of the Educational Student Loan Fund under the Ministry of Science and Education.
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An auction for the placement of Silk Way West Airlines bonds is being held today at the Baku Stock Exchange (BSE).
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Meqa Sığorta has won an open tender to provide voluntary health insurance for employees of the Azerbaijan Ground Transport Agency under the Ministry of Digital Development and Transport.
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The “Taxes” newspaper of the State Tax Service under the Ministry of Economy has published the names of newly registered commercial entities.
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