The Tax Code of the Republic of Azerbaijan

Article 99. Income from activity that is not connected with employment
99.1. Income from activity that is not connected with employment shall consist of incomes from entrepreneurial and non-entrepreneurial activity:
99.2. Income from entrepreneurial activity, including:
99.2.1. income from the realization of assets used for the purposes of entrepreneurial activity;
99.2.2. income received due to the restriction of entrepreneurial activity or agreement to its closing;
99.2.3. amounts that are received from the realization of fixed assets and which are included in income pursuant to Article 114.7. of this Code;
99.2.4. expenses reimbursed, deducted from income according to Article 141 of this Code or from decrease of resources;
99.3. Income from non-entrepreneurial activity, including:
99.3.1. interest income;
99.3.2. dividends;
99.3.3. income from the lease of property;
99.3.4. royalty;
99.3.5. amount of taxpayer’s written-off debt, except those included in article 98.2.4. of this Code;
99.3.6. gains received from the sale of assets not used for entrepreneurial activity;
99.3.7. amount of presents and heritage received in calendar year, with exception of those specified in article 98.2.2. of this Code;
99.3.8. any other income that indicates the increase of the net price of taxpayer’s assets (in the event of submission or calculation of amortization for the taxation purposes) - other than salaries and wages;
99.3.9. difference between insurance premiums paid for life insurance and insurance payments;
99.3.10. payment for notarial acts carried out by private notary, as well as for services provided in connection with a notarial acts;
99.3.11. remuneration receivedby persons,engaged inadvocacy,for services renderedin connectionwith this activity;
99.3.12. winnings on bet on sport games.
Article 100. Adjustment of income
Dividends, interests, rents, royalties, revenues from provision of real estate and winnings on bet on sport games, received by an individual, taxed at the payment source in the Republic of Azerbaijan in accordance with Articles 122, 123, 124 , 150.1.9 and 150.1.10 of this Code shall be deducted from the total income.