Deposit interest may be taxed in Azerbaijan from next month

From next month, the annual interest income paid by local banks and foreign bank branches in Azerbaijan on deposits of individuals may be taxed.

Report informs that the incomes mentioned above were exempted from tax for seven years from February 1, 2016.

In this regard, there is still no news regarding the extension of the period of the amendment to the Tax Code, the Milli Majlis has not received the relevant draft law.