(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 16. Business
entities operating in Azerbaijan's liberated territories will be
completely exempt from tax levies from January 1, 2023, Head of the
Main Department of Tax Policy of the State Tax Service under the
Azerbaijani Economy Ministry Nijat Imanov said at the 3rd Finance
and Investment Forum on November 16, trend reports.
Imanov noted that entrepreneurs in the liberated territories
will be exempt from taxes on bonds for a period of 10 years.
According to him, 113 amendments are to be made to the Tax Code:
26 directions of changes regards the business sector, and four
directions – tax incentives for liberated lands.
'Furthermore, entrepreneurs will be exempt from land and income
taxes, as well as from VAT,' Imanov stated.
As he said, it's scheduled to subsidize the agricultural sector
as an incentive. Agricultural entrepreneurs are supposed to be
exempt from taxes on real estate and land for seven years.
Imanov also talked about plans to extend the period of tax
benefits for medical services under compulsory health insurance
until January 1, 2024.
Moreover, Azerbaijani tax debtors will be able to open bank
accounts from 2023, the official added.
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