Finance

Finance

Approved the boundaries of the zones of Baku, on the basis of which the tax will be levied on the sale of property

08 January 2016 05:11 (UTC +04:00)

Baku. Ramiz Mikailoglu-APA. In connection with the application of the new rules of the simplified tax payment on the sale of housing and non-residential areas, which entered into force on 1 January of this year, approved by the boundaries of the zones of Baku as well as towns and villages of the capital, APA reports.

In connection with this Cabinet of Ministers adopted a decision on the approval of "the zone boundaries of the city of Baku, as well as its towns and villages for application of simplified tax in accordance with Article 220.8.1 of the Tax Code of the Azerbaijan Republic".

Note that according to the amendments to the Tax Code, a simplified tax for persons engaged in the construction of buildings is calculated by calculating the 45 manat per square meter taxable object, and for individuals - a rate of 15 manats per square meter taxable object.

If the building is located in Baku, its village or village, then, depending on the zone, to the amount of simplified tax rates will be applied. The coefficient of the first zone is 4, the second zone - 3, third and fourth areas - 2.2, fifth and sixth areas - 1.8, seventh, eighth and ninth areas - 1.5, tenth, eleventh and twelfth zones - 1 2.

For instance, any individual in the sale of apartments in 60 square meters, situated in the first zone of Baku city will have to pay a tax in the amount of 3,600 manats (60 meters x 15AZN x 4 = 3,600 manats), and selling apartments 60 square meters, located in the twelfth zone of Baku - 1080 manat (60 meters x 15AZN x 1.2 = 1080 manats).

It should be noted that the coefficients during the sale of non-residential portions of buildings by individuals and companies, will be 1.5.