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Azerbaijan introduces amendments to Tax Code

18 December 2021 14:13 (UTC+04:00)
Azerbaijan introduces amendments to Tax Code

By Trend

The draft amendments to the Tax Code were submitted for discussion in the first reading at a joint meeting of the Milli Majlis (Azerbaijani Parliament) Committees on Economic Policy, Industry and Entrepreneurship, Legal Policy and State Construction, as well as the Youth and Sports Committee, Trend reports.

According to the information, the amendments exempt from income tax winnings of up to 500 manats ($294.2) in the lottery and sports betting (previously 10 manats/$5.88), and also imply the regulation of electronic sports betting in terms of tax legislation in a similar legal regime with lotteries.

Another amendment defines operators and sellers of sports betting, as well as organizers of lotteries and sellers of lottery tickets as taxpayers of simplified tax, and also clarifies tax rates for taxable items (operators and organizers – six percent of turnover, sellers – four percent of commissions received by them). Previously, they paid income tax and profit tax.

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