Azerbaijan Highlights:
- An entity solution is available via 1WB’s 100% subsidiary company to deploy local and foreign employees in Azerbaijan and ensuring fully compliance with country’s regulations.
- The whole deployment process for foreigners takes about 3 weeks whereas for locals within 1 week.
- Handling payroll processing, immigration and taxes compliantly, swiftly and cost efficient.
- Individual Income Tax Rates:
| Industry Sector | Taxable Income | Tax Rate % |
|---|---|---|
| Oil & Gas Industry (Employed) | Up to AZN 2,500 | 14% |
| Over AZN 2,500 | AZN 350 + 25% of amount exceeding AZN 2,500 | |
| Private Employment | Up to AZN 8,000 | 0% |
| Over AZN 8,000 | AZN 350 + 14% of ampint exceeding AZN 8,000 | |
| Individual Entrepreneurs | 20% |
- Companies are subject to profit tax at the flat rate of 20%.
- Social Security Contributions - The social security contributions rates for employment income (other than oil and gas government sectors) are considered as 15% payable by employer and 10% withheld from employees.
- Work permit - 1WB can sponsor work permits for foreign employees and the processing time is about 3 weeks.