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The right to tax benefits for individuals providing consultancy services in accounting and finance
The right to tax benefits for individuals providing consultancy services in accounting and finance
I work as an accountant at “X” LLC. After learning that an amendment was made to the Tax Code starting from 2025, providing a 75% income tax exemption in the field of accounting, I decided to terminate my employment and provide services to the same LLC on an individual basis, using my taxpayer identification number (TIN). In this case, will the tax exemption apply to my income in the field of accounting?
According to the State Tax Service under the Ministry of Economy, based on Article 102.1.30-1 added to the Tax Code effective from January 1, 2025, 75% of the income of individuals who provide consulting services in the fields of accounting and finance, and whose income from such activity (excluding expenses) does not exceed 45,000 manats per calendar year, is exempt from income tax.
It has also been stated that under Article 102.9, added to the Tax Code from January 1, 2025, if an individual who was previously employed in the activity areas specified in Article 102.1.30-1 terminates their employment contract, begins to engage in that activity as an individual entrepreneur, and within one year from the start of entrepreneurial activity provides the same or similar services, in whole or in part, to their former employer, then the tax exemption provided under Article 102.1.30-1 does not apply to that individual entrepreneur.
Based on the above, if a person who was previously employed in the field of accounting terminates their employment contract and, within one year from starting activity as an individual entrepreneur, provides the same services to their former employer, the tax exemption under Article 102.1.30-1 of the Tax Code does not apply to that individual.
I work as an accountant at “X” LLC. After learning that an amendment was made to the Tax Code starting from 2025, providing a 75% income tax exemption in the field of accounting, I decided to terminate my employment and provide services to the same LLC on an individual basis, using my taxpayer identification number (TIN). In this case, will the tax exemption apply to my income in the field of accounting?
According to the State Tax Service under the Ministry of Economy, based on Article 102.1.30-1 added to the Tax Code effective from January 1, 2025, 75% of the income of individuals who provide consulting services in the fields of accounting and finance, and whose income from such activity (excluding expenses) does not exceed 45,000 manats per calendar year, is exempt from income tax.
It has also been stated that under Article 102.9, added to the Tax Code from January 1, 2025, if an individual who was previously employed in the activity areas specified in Article 102.1.30-1 terminates their employment contract, begins to engage in that activity as an individual entrepreneur, and within one year from the start of entrepreneurial activity provides the same or similar services, in whole or in part, to their former employer, then the tax exemption provided under Article 102.1.30-1 does not apply to that individual entrepreneur.
Based on the above, if a person who was previously employed in the field of accounting terminates their employment contract and, within one year from starting activity as an individual entrepreneur, provides the same services to their former employer, the tax exemption under Article 102.1.30-1 of the Tax Code does not apply to that individual.