12:32 - 21.11.2025

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November 21, Fineko/abc.az. In Azerbaijan, the volume of tax payments from corporate income tax to the state increased by 3% compared with the previous year.

ABC.AZ reports, referring to the State Statistics Committee, that in the first 3 quarters of the year, legal entities made income tax payments to the state in the amount of 5.39 billion manats (18.5% of the total budget revenues of 29.142 billion manats.

The banking sector alone paid 214.5 million manats of income tax to the State Budget in the first 9 months of the year (for Jan-Sept 2024 - 190.6 million manats were paid).

The difference between all company revenues and expenses deducted from income is profit. Income tax is determined by multiplying this profit by a set interest rate. Although the income tax is currently 20%, it is calculated differently from the previous financial situation of these companies (for example, accumulated losses).

According to Article 105 of the Tax Code, corporate profits are taxed at the rate of 20%.