Azerbaijan is planning to impose the tax for legal bodies and physical persons providing all kinds of transactions with cryptocurrencies. The Trend news agency informs about it on the pretext of Deputy General director of Tax department of Ministry of Taxation Nijat Imanov.
Nijat Imanov said in his interview that cryptocurrency operating profit for legal bodies is formed as profit tax, and as income tax for physical persons. If somebody purchased cryptocurrency and sold it after growth of its price, this sim is registered as profit and should be taxed. The Trend also notes that cryptocurrency trading becomes more popular way of profit in this country. The significant growth of market was observed from May to December, 2017. So, cryptocurrency operations can be very profitable area for Azerbaijan and create additional item of income. The new plans are at the stage of development, but it is evident that this is the question of the nearest future.