The head of the Central Bank of Azerbaijan (CBA) Elman Rustamov stated that starting from February 1st, physical deposits in the country's banks will be exempt from income tax.
He recalled that this privilege operated until 2015. Now its return will be subsidized from the state budget. It should be noted that the tax exemption will also affect non-residents of the country.
"According to statistics, over the year the population of Azerbaijan receives 500 million manats income from their deposits. According to preliminary data, bank deposits of the population amount to 9.5 billion manats, income on these deposits amounts to 93 million manats," APA quoted him as saying.
