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Ministry: Income tax on deposits levied from February 1 to March 1 must be repaid to depositors

Ministry: Income tax on deposits levied from February 1 to March 1 must be repaid to depositors

06 April 2016 11:16 (UTC +04:00)

“According to law, the deposits are exempted from income tax from February 1. But the law was signed on March 1. If the law even is signed after 1-2 months, the date in the law must be taken into consideration. Therefore, if banks levied income tax on deposits, they must repay it. Banks must solve this issue with their customers. In other word, the rights of depositors are protected in this issue”, Musayeva said.

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