Baku, Azerbaijan, Nov. 15
By Azad Hasanli - Trend:
The American Chamber of Commerce in Azerbaijan (AmCham) offered the country’s government to explore the possibilities for tax exemption in the priority areas of the non-oil sector.
This is reflected in the AmCham White Paper publication named Observations and Recommendations for Improving Azerbaijan’s Business Climate, which was presented to the Administration of the President of Azerbaijan Nov. 15.
AmCham members also proposed to consider application of a new tax regime in the priority areas of the non-oil sector.
“It should be acknowledged that Azerbaijan’s proven experience in attracting foreign investments is mainly limited to the oil and gas sector. We believe that other areas of industry and business should be introduced with concessions or be exempt from taxes, given the current economic situation and the targets for the non-oil sector development,” the paper says.
For this purpose, advanced experience of other developing countries should be studied, according to the AmCham representatives.
The White Paper reflects the collective opinion of the AmCham members on the changes which ensure stability of the business environment and the state.
The American Chamber of Commerce in Azerbaijan is a private, non-profit business association supporting and promoting the interests of business in Azerbaijan. Established in 1996, AmCham is composed of over 280 members and associates active in every sector of the Azerbaijani economy.