These persons to be exempt from tax

11:57 - 23.11.2021

November 23, Fineko/abc.az. Income from the write-off of debts of participants of the Patriotic War and shahids to banks and other credit organizations are exempt from income tax.
 
ABC.AZ reports that this was reflected in the proposed amendments to the Tax Code, discussed in the 2nd reading at the MIlli Majlis meeting.
 
At that, the write-off by banks and credit organizations of interests accrued for the outstanding debt of the Patriotic War participants on loans received before 1 January 2021 does not apply to the taxable income of banks and other credit organizations. Reserves created on the principal amount of the written-off debts determined by this article will be attributed to expenses deducted from income.