BAKU, Azerbaijan, February 10. A favorable business environment has been created in Azerbaijan’s economic zones, Head of the Department at the State Tax Service under the Ministry of Economy Nijat Imanov said at the event on the topic "Heydar Aliyev and Azerbaijan's tax system: to new challenges", Trend reports.
"Besides, we have created a favorable tax environment for residents of technology and industrial parks. Startups have been exempted from profit and income taxes for three years, tax rates were reduced and entrepreneurial activity in the agricultural sector are promoted,” Imanov pointed out.
“In general, digitalization has played a large role in the development of business activities. We have created and continue to create state tax services available to every entrepreneur," he noted.
The official further said that in the liberated territories of Azerbaijan, from January 1, 2023, residents of economic zones have been exempted from taxes and duties for 10 years.
“Moreover, they have been exempted from VAT on the import of equipment, machinery, technologies and raw materials. Dividends which will be paid to shareholders have been also exempted from taxes,” Imanov stressed.
“Other measures have been taken and continue to be taken to further improve the business environment and investment potential in Azerbaijan," he concluded.