Journalists and some entrepreneurs will be exempted from 75% of income tax
75% of income of journalists and a number of other individual entrepreneurs will be exempted from personal income tax. This is stated in the amendment to the ‘Tax Code’, discussed at the meeting of Milli Majlis on 16 December.
According to the document, 75% of journalists' income is exempt from tax if the amount of income for the year did not exceed AZN 45,000.
This tax exemption was valid until the end of 2023. However, from 1 January 2024, it was cancelled and the mentioned category paid taxes at the rate of 20% of all income.
From 1 January 2025, the same privileges will be restored for those whose annual income does not exceed AZN 45,000.
After discussion, the issue was put to vote and adopted in the third final reading.
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