BAKU, Azerbaijan, November 27. 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.
Moreover, it was noted that from January 1, 2024, pursuant to the current version of Article 102.1.30 of the AR Tax Code, 75 percent of income from business activities of individual entrepreneurs who are microentrepreneurs with average monthly employees of at least 3 persons and have no arrears of mandatory state social insurance contributions are exempt from income tax.
Some individuals engaged in individual professional activities cannot be payers of the simplified taxation system, as they provide services not to the population but to other taxpayers. Since these individuals act individually, they also cannot benefit from the privilege provided by Article 102.1.30 of the Tax Code.
Therefore, in order to ensure the application of fair taxation in respect of micro-entrepreneurs—individuals with the volume of annual turnover of entrepreneurs operating in some areas of services up to 45,000 manat ($26,470), it is proposed to amend the Tax Code regarding tax exemption for 75 percent of income received by these individuals without applying any conditions (requirement of three employees and absence of debts on compulsory state social insurance).
If adopted, this law will come into force on January 1, 2025.
After discussions, the issue was put to a vote and adopted in the first reading.
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