BAKU, Azerbaijan, November 20. Azerbaijan will exempt 75 percent of journalists' income from personal income tax, with no conditions applied, Trend reports.
The measure is reflected in a new article, 102.1.30-1, proposed for inclusion in the country's Tax Code.
According to the draft law, 75 percent of income earned by individuals engaged in journalistic activities, with an annual income (excluding expenses) up to 45,000 manat ($26,470), will be exempt from income tax.
Starting from January 1, 2024, under the current version of Article 102.1.30 of the Azerbaijani Tax Code, 75 percent of the income generated by microentrepreneurs (with at least three employees) is exempt from income tax, provided they do not have outstanding social security contributions.
There are also certain individuals working independently who cannot benefit from this exemption because they provide services to other taxpayers rather than the public. To address this, the proposed amendment aims to extend the 75 percent tax exemption to individuals in specific service sectors, provided their annual turnover does not exceed 45,000 manat ($26,470), without any further conditions.
If approved, the law will come into effect on January 1, 2025.