“Strengthening the economic independence of media subjects is the main priority of the media reforms implemented in our country.”
This was stated by the chief of staff of the Media Development Agency, Ragsana Karimova, in response to the APA investigation into the bill that provides for the exemption from income tax of 75 percent of people’s income. who are dedicated to journalistic activities.
According to him, with the Law of the Republic of Azerbaijan on the Media, the terms “media agent” and “journalist” were defined for the first time, the circle of persons engaged in this activity was specified and As a result, the legal basis created to take measures to strengthen the economic independence of these people in the next stage laid the foundations.
“The first component of the reform package aimed at people working in the media was the approval by the President of the Republic of Azerbaijan of the changes introduced in mortgage legislation, thus giving journalists the right to use a preferential mortgage loan guaranteed by the State.
Subsequently, on May 13, 2022, the import and sale of paper for the production of mass information products, books and textbooks was exempt from VAT.
The next principled step towards strengthening the economic independence of the media was the introduction of tax exemptions for the country’s press from January 1, 2023. Thus, the income of the subjects of the print and online media line from their activities, advertising income, as well as the corresponding financial aid provided to them, were exempt from income tax, profits and simplified tax, as well as the presentation of media products produced by them. They were exempt from VAT for a period of 3 years.
During several meetings, journalists working in both the capital and the regions stated that they find it difficult to pay income tax in full and that they also need the support of the state in this regard.
The modification proposed today to the Tax Code provides for the exemption from income tax of 75 percent of the income of individuals engaged in journalistic activities without applying any conditions.
In particular, the proposal to exempt 75 percent of the income of such individuals from tax without taking into account the three-employee requirement is a nuance of exceptional importance. This means that, if the project is accepted, any person who is engaged in journalistic activities and whose income is up to 45,000 manats per calendar year, excluding expenses, will be exempt from 75 percent of the tax on income obtained from this activity. “said the head of staff emphasized.
