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Azerbaijan - TAXES ACCOUNTING |
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Corporate tax
Tax rate for resident companies |
on 1/1/2005, the generally applicable rate of profit tax is 24%.
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Taxe rate on long-term capital gains |
Long-term capital gains are taxed at 24%.
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System governing groups of companies and dividends paid by subsidiaries to their parent companies |
The tax is withheld at the rate of 10%.
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Tax rate on branches |
The general profit tax rate is 24 percent. An additional branch remittance tax of 10% applies to profit remittances from the branch to the head office. The taxable base is net profits after taxes.
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Income tax
Fiscal year |
The financial year begins on 1st of January and ends on 31st December of each year.
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Income tax rate |
Personal income tax rates are progressive:
| Taxable income | Rate | | < 1 800 000 Manat | 0% | | 1 800 000 - 36 000 000 Manat | 14% | | > 36 000 000 Manat | 35% + 4 788 000 Manat |
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VAT rates
Standard rates |
The standard VAT rate is 18%.
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Reduced rates |
Exports as well as financial and assurance services are VAT exempted.
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Other important taxes
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Name of tax |
Rate |
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Tax on interests
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Deducted at source at the rate of 10%,
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Tax on transfers of technology
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20%
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Tax on sea transport
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6%
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Accounting
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Obligations and publications
Companies have to produce annually documents which present a precise analysis of the economic and financial situation.
Certification and auditing
According to their status, companies should have to guarantee the exactness of their annual report.
Professionals and representative organizations
Vneshexpertservice, Baku.
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Export Entreprises SA ©, All rights reserved
Last modified in
January 2003
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