Azerbaijan Names Volume Of New Preferential Loans For Projects In Liberated Territories

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 21. The Karabakh Main Territorial Tax Department of the State Tax Service (STS) held a meeting in Fuzuli city with taxpayers engaged in entrepreneurial activities in Aghdam, Fuzuli, and Khojavend districts, Trend reports.

Approximately 70 representatives from micro and small enterprises attended the meeting, which provided information on the services available to taxpayers, including tax benefits applicable in the liberated territories. This included details on state guarantees for loans and interest subsidies.

A board member of the Entrepreneurship Development Fund (EDF), Emin Shirinov, discussed the activities of his organization during the event.

It was highlighted that preferential loans amounting to up to 24 million manat ($14.1 million) have been allocated for financing projects in the liberated territories of Azerbaijan.

Head of the Karabakh Main Territorial Tax Department, Alakbar Mammadov, elaborated on government initiatives aimed at developing entrepreneurship in the liberated territories. He emphasized that support mechanisms are crucial for attracting a workforce and enhancing infrastructure.

During the meeting, monitoring activities were discussed, with the primary goal being the evaluation of business registrations with tax authorities. Only registered businesses will be able to benefit from tax incentives by obtaining resident status in these areas.

The session concluded with a lively exchange of views on the topics addressed, along with answers to participants' questions.

MENAFN21102024000187011040ID1108802006