Tax Example: Rent
November 15, 2016
|Non-resident couple's rental income1|
|Monthly Rental Income2||1,500||6,000||12,000|
|Annual Rental Income||18,000||72,000||144,000|
|= Taxable Income||18,000||72,000||144,000|
|Annual Income Tax Due||2,520||10,080||20,160|
|Tax Due as % of Gross Income||14.00%||14.00%||14.00%|
Global Property Guide research
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 US$ = 1.80 AZN
3 Rental income earned by nonresident individuals is taxed at a flat rate of 14%.