BAKU, Azerbaijan, December 16. Azerbaijan will exempt 75 percent of journalists' income from income tax without any conditions, Trend reports.
The proposal was reflected in an amendment to the Tax Code of Azerbaijan, which was discussed during today's session of the Parliament.
Under the proposed changes, 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, according to the current version of Article 102.1.30 of the Tax Code of the Republic of Azerbaijan, 75 percent of income from entrepreneurial activities of micro-enterprise owners with no less than three employees and who do not have arrears in mandatory state social insurance contributions are also exempt from income tax.
Additionally, a group of individuals engaged in independent professional activities cannot be subject to simplified tax regimes (STR), as they provide services not to the general public but to other taxpayers. Since these individuals operate independently, they are also unable to benefit from the exemptions provided under Article 102.1.30 of the Tax Code.
Therefore, to ensure fair taxation for micro-entrepreneurs—individuals with an annual turnover of up to 45,000 manat ($26,470) in specific service sectors—the amendment proposes changes to the Tax Code, allowing for a 75 percent tax exemption on their income, without the requirement for having three employees or clearing any social insurance arrears.
After discussions, the issue was put to a vote and passed in the third reading.
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