17:41 - 26.04.2022

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April 26, Fineko/abc.az. The list of income tax exemptions and benefits is under expansion.

ABC.AZ reports that in this regard, the draft amendments to the Tax Code were submitted for discussion in the 1st reading at today's session of Milli Majlis.

Under the amendment, dividends and interest income received by individuals on shares and bonds offered publicly and admitted to trading on a regulated market will be exempt from income tax from 1 February 2023 for 5-year period.

At that, according to the draft, a single mechanism for taxation of interest income of legal entities will be introduced.

The draft amendments were put to the vote and passed in the 1st reading.