The Azerbaijani parliamentary committee for economic policy proposed raising the income tax for deposit interest rate of over 500 manats from 0% to 10%, said Deputy Tax Minister Natig Amirov at a session of the committee, abc.az reports.
An individual with a deposit of 30,000 manats will have to pay a tax of 300 manats a year. A depositor may split the sum between 6 banks to avoid the tax.
As of December 1, individuals in Azerbaijan had 7086.4 million manats on their deposit accounts.
