Middle East > Azerbaijan > Azerbaijan's Taxes Minister Fazil Mammadov

Azerbaijan: Azerbaijan's Taxes Minister Fazil Mammadov

2015/10/18

Azerbaijan's Taxes Minister Fazil Mammadov has voiced a proposition to make winnings from sports betting in Azerbaijan subject to gain tax starting in 2016.

Addressing a discussion over draft amendments and additions to the Tax Code at a conference of the parliamentary committee on economic policy on October 16, he noted that winnings from bets have not been taxed since January 1, 2013.

Given the fact that the annual turnover of sports betting in Azerbaijan amounts to about 300 million manats ($286.45 million), national budget revenues from the taxation of sports betting could reach 25 million manats ($23.87 million) in 2016.

"As a result, over the completed period it contributed to the development of sports betting. Therefore, it is necessary to impose taxes on winnings from sports betting. Given the current economic situation, we consider it appropriate," the minister added.

Under the taxes ministry's proposition, those taking part in bets will have to pay a tax of 10 % of their winnings.

Those issuing prizes to the winners will be classified as tax agents, that is, persons required to withhold the tax at the payment source. They are required to pay the tax to the national budget and submit a declaration to tax authorities no later than the 20th day of the following month.

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