Azerbaijan changes tax rates for sale of apartments
BAKU, Azerbaijan, Dec. 28
Azerbaijan has changed the tax rates for sale of apartments, Trend reports referring to the Azerbaijani Ministry of Taxes.
Previously, an owner of an apartment was previously exempted from paying taxes on condition of registration in this apartment for at least five years, while according to new rules, the period was reduced to three years.
On the other hand, when selling an apartment owned by each individual, regardless of the registration period, the sellers will receive benefits for 30 square meters of apartment.
That is, a citizen, when selling an apartment of 70 square meters, will pay tax for only 40 square meters.
For each square meter of apartment, a base tax amount of 15 manat ($8), which is calculated by multiplying by the zonal coefficient, has been set.
As a result, when selling an apartment, citizens will receive benefits equal to the base tax amount of 450 manat ($264).