BAKU, Azerbaijan, January 1. The scope of the property tax exemption for taxpayers operating in the fields of education, healthcare, culture, and sports has been reduced, TurkicWorld reports.
Under the Law on Amendments to the Tax Code approved by President Ilham Aliyev, for taxation purposes, the value of the property of enterprises and individual entrepreneurs operating in the fields of education, healthcare, culture, and sports is reduced by 75 percent only in respect of fixed assets used by them for their designated purposes in these fields.
In other words, the property tax exemption that was previously applied to such taxpayers at a rate of 100 percent will now be applied at a rate of 75 percent.
