(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 7.​ When tax concessions are introduced, they are usually set for a limited period, and the period for this particular type of income tax concession was established for seven years, and that term has now expired, Trend reports, quoting Sahib Alakbarov, Azerbaijan's Deputy Minister of Economy.

Speaking at a joint meeting of the Parliamentary Committees on Legal Policy and State Building, Defense, Security and Anti-Corruption, Human Rights, and Regional Issues on the draft law “On the State Budget of the Republic of Azerbaijan for 2026,” Alakbarov noted that a new type of tax concession will now be applied to replace the expired one.

“In other words, individuals earning up to 2,500 manat ($1,470) in monthly salary were initially supposed to pay a 14 percent income tax, but starting next year, this rate will be set at 3 percent. I believe that the number of people in Azerbaijan earning 2,500 manat is quite significant, and a 3 percent tax is not a large amount,” he stated.

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