Income tax on rent, worked example, in Azerbaijan
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| 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 | |
| Income Tax4 | ||||
| Flat rate | 14% | 2,520 | 10,080 | 20,160 |
| Annual Income Tax Due | 2,520 | 10,080 | 20,160 | |
| Tax Due as % of Gross Income | 14.00% | 14.00% | 14.00% | |
| Source: Global Property Guide research |
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Notes
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%.