(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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