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Individuals’ payments on income taxes to increase by more than 33% in Azerbaijan next year

07 November 2019 15:47 (UTC +04:00)

In 2020 amount of payment of individuals on income tax is forecasted to be 33.5% more in comparison with the current year, APA-Economics reports citing comment of the Chamber of Accounts of the Republic of Azerbaijan on draft law on “State budget for 2020”.

It is noted in the report that for 2020 on profit tax of legal entities AZN 2 656,5 mln. (0,5% less in comparison to the approved amounts for current year), on simplified tax AZN 380 mln (18% more), on income tax of individuals AZN 1 175,0 mln (33,5% more), on excises AZN 1 049,0 mln (6,8% more), on mining tax AZN 134,5 mln. (1,1% more) amount is envisaged.