Betting winnings now taxable in Azerbaijan, for foreigners too
Baku, Azerbaijan, Oct. 16
By Anvar Mammadov - Trend:
The winnings in sports betting in Azerbaijan will be subject to an income tax starting from 2016, the parliament of Azerbaijan told Trend.
The change will also apply to non-residents, that is, the persons who have income sources in the country.
The proposal to impose this tax was included in the draft amendments and additions to the Tax Code, submitted for the parliament's consideration.
Under the said proposal, those taking part in the betting will have to pay a tax of 10 percent of their winnings.
Those issuing prizes to the winners will be classified as tax agents, that is, the persons required to withhold the tax at the payment source. They are required to pay the tax to the state budget and submit a declaration to tax authorities no later than the 20th day of the following month.
In another proposal to the parliament it was suggested to classify from the next year the sports bet winnings as income from activities unrelated to employment.
Earlier, the sports bet winnings were exempt from the income tax.
Edited by SI
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