Azerbaijan Extends Lifeline Of Advantages For Farm Output Taxpayers
Date
11/26/2024 8:07:21 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 26. The period of
benefits for taxpayers engaged in agricultural production has been
extended, Head of the Main Tax Policy Department of State Tax
Service under the Ministry of Economy Nijat Imanov said at an event
dubbed“Cooperation with Business Associations and Entrepreneurs
and Its Results” today, Trend reports.
He made it clear that the income from this activity that isn't
on the chopping block until 2027, along with the subsidies given,
is off the tax hook.
“Dividend income from agricultural enterprises is exempt from
taxation from 2023 for a period of 4 years. At the same time,
benefits related to agricultural processing activities were
provided. The sale of animal meat and poultry is exempt from VAT,”
Imanov added.
To note, the State Tax Service under the Ministry of Economy of
Azerbaijan is holding an event titled "Cooperation with Business
Associations and Entrepreneurs and Its Results" in Azerbaijan's
Baku.
At the event, attendees will hear about the latest tax laws and
regulations, as well as the results of the partnership that was
formed with the appropriate government entities, business groups,
and entrepreneurs.
The gathering features speeches from Samira Musayeva and Ilkin
Valiyev, Deputy Heads of the State Tax Service; Vusal Shikhaliyev,
Head of the Economic Policy and Industrial Affairs Department at
the Presidential Administration of Azerbaijan; Nijat Imanov, Head
of the Main Tax Policy Department; and Avaz Guliyev, Deputy Head of
the Main Tax Policy Department, among other officials and
experts.
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