Interest on manat deposits up to AZN 200 a month is tax free, the rest is taxed at 10%

A general exemption for deposit interest applied from February 1, 2016 to February 1, 2023. Under a law of December 2023, interest on manat deposits up to AZN 200 a month in each bank is exempt indefinitely; a manat deposit of 18 months or longer is fully exempt for 3 years. Other interest, including on foreign currency deposits, is taxed at 10% at source.

What this changes in the calculation

For an Azerbaijani resident with a deposit in Azerbaijan: a manat deposit within the exemption is taxed at 0, a foreign currency deposit at 10%.

Source: taxes.gov.az
Status: verified
Published: October 27, 2026

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