13:03 - 10.01.2024

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January 10, Fineko/abc.az. Since 2024, after the latest changes in the Tax Code, a number of tax benefits have been applied to credit organizations.

The new benefits to credit institutions relate to Articles 199.20 and 207.12, which were added to the Tax Code.

Thus, according to Articles 199.20 and 207.12, credit institutions are exempt for 2-year period from paying tax on land and property that became their property in exchange for a loan.

In accordance with Article 199.20 of the Tax Code, credit institutions are exempt from paying property tax for the period of 2 years, starting from the calendar year in which this property was taken on the balance sheet, for property that became their property in exchange for the given loan.