Azerbaijan To Grant Years-Long Tax Breaks To Regional Hotels, Sanatoriums

(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 29. Tourism enterprises (hotels and sanatoriums) will receive tax breaks beginning next year to boost regional tourism growth and minimize fiscal tax expenses, Trend reports.

In connection with this, the President of the Republic of Azerbaijan Ilham Aliyev signed a decree on the implementation of the law "On amending the Tax Code".

The law mandates a 75 percent reduction in property tax on real estate used in hotel and sanatorium activities (except during the period of temporary suspension of entrepreneurial activities in accordance with Article 16.3 of the Tax Code) in cities and districts throughout the country, excluding Baku, Sumgait, Khirdalan, and Absheron districts, for a three-year period.

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