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Azerbaijan Will Subject a Tax on Cryptocurrency Net Sales

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Azerbaijan Will Subject a Tax on Cryptocurrency Net Sales Empty Azerbaijan Will Subject a Tax on Cryptocurrency Net Sales

Post by Vladdirescu on Wed May 09, 2018 1:00 pm

All generated revenues from cryptocurrency operations will be taxed in Azerbaijan, said Nidjat Imanov, Deputy Director of the Department of Tax Policy and Strategic Studies at the Ministry of Taxes.

Imanov made clear the position of his department during the Financial and Investment Forum that was held in the capital Baku. He stated:

“This is formalized as a profit tax for legal entities and income tax for individuals. If a person bought a cryptocurrency and then sold it after its price has increased, this amount is recorded as income and therefore should be attracted to taxation.”

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/azerbaijan-will-subject-tax-on-cryptocurrency-net-sales/

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