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How can a citizen renting out an apartment become a taxpayer?
I want to rent out my apartment. Do I need to register as a taxpayer for this activity, and what steps should I take?
The State Tax Service under the Ministry of Economy has stated that, pursuant to Article 124.1 of the Tax Code, income earned by individuals from renting out residential premises they own to other individuals (excluding hotels and accommodation facilities located in hotels and hotel-type establishments) is subject to a 10% tax withheld at source.
Individuals registered with the tax authorities who make the relevant rental payments are required to withhold tax at source. The person responsible for withholding tax from the rent must transfer the tax to the state budget and submit the relevant withholding tax return no later than the 20th day of the month following the quarter in which the income was paid.
If the person paying the rent is not registered as a taxpayer, the individual renting out the property must register with the tax authorities independently or through an appointed tax agent and obtain a taxpayer identification number (TIN, known locally as VÖEN). In this case, tax must be calculated at a rate of 10% on the income earned from this activity. The individual must submit an income tax return to the tax authorities no later than 31 March of the year following the reporting year and pay the calculated income tax to the state budget by the same deadline.
To register for tax purposes, an individual may submit an application for individual taxpayer registration and a copy of an identity document to the tax authorities. Registration is free of charge and is available at ASAN service centres or, in cities and districts where such centres are unavailable, at taxpayer service centres.
The taxpayer registration certificate is sent to the applicant's electronic account, taking into account the processing time. If requested in the application, a paper copy is also provided.
Citizens may also register electronically without visiting a tax office. Online registration is carried out through the Internet Tax Office portal using an enhanced electronic signature, including ASAN İmza.
https://www.youtube.com/watch?v=vf9kcwylzJ8
Legal basis: Articles 124 and 150.1.6 of the Tax Code of the Republic of Azerbaijan.
I want to rent out my apartment. Do I need to register as a taxpayer for this activity, and what steps should I take?
The State Tax Service under the Ministry of Economy has stated that, pursuant to Article 124.1 of the Tax Code, income earned by individuals from renting out residential premises they own to other individuals (excluding hotels and accommodation facilities located in hotels and hotel-type establishments) is subject to a 10% tax withheld at source.
Individuals registered with the tax authorities who make the relevant rental payments are required to withhold tax at source. The person responsible for withholding tax from the rent must transfer the tax to the state budget and submit the relevant withholding tax return no later than the 20th day of the month following the quarter in which the income was paid.
If the person paying the rent is not registered as a taxpayer, the individual renting out the property must register with the tax authorities independently or through an appointed tax agent and obtain a taxpayer identification number (TIN, known locally as VÖEN). In this case, tax must be calculated at a rate of 10% on the income earned from this activity. The individual must submit an income tax return to the tax authorities no later than 31 March of the year following the reporting year and pay the calculated income tax to the state budget by the same deadline.
To register for tax purposes, an individual may submit an application for individual taxpayer registration and a copy of an identity document to the tax authorities. Registration is free of charge and is available at ASAN service centres or, in cities and districts where such centres are unavailable, at taxpayer service centres.
The taxpayer registration certificate is sent to the applicant's electronic account, taking into account the processing time. If requested in the application, a paper copy is also provided.
Citizens may also register electronically without visiting a tax office. Online registration is carried out through the Internet Tax Office portal using an enhanced electronic signature, including ASAN İmza.
https://www.youtube.com/watch?v=vf9kcwylzJ8
Legal basis: Articles 124 and 150.1.6 of the Tax Code of the Republic of Azerbaijan.