16:31 - 28.12.2019

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December 28, Fineko/abc.az. One more novelty in respect to homeowners has been applied.

So, if previously homeowners were exempt from tax when selling apartments, being registered in the residential sector for 5 years, now this period was reduced by 2 years and decreased by 3 calendar years.

ABC.AZ reports with reference to the Center for Media & Communications of the Ministry of Taxes, these social changes that will be made to the Tax Code are aimed at reducing the financial and tax burden of the population. On the other hand, when selling an apartment belonging to any individual, regardless of the period of registration in the residential sector, you will always receive a tax discount for 30 sq m.

For example, for a citizen who sells a house with an area of 70 sq m, with a deduction of 30 sq m, a tax will be charged on the remaining 40 sq m. At the same time, the basic tax amount of 15 manats per sq m will be determined, which is calculated by multiplying the zone coefficients. As a result, when selling each apartment, citizens receive a discount of up to 450 manats of the basic tax amount.