BAKU, Azerbaijan, November 26. The State Tax Service under the Ministry of Economy of Azerbaijan hosted an event titled "Cooperation with Business Associations and Entrepreneurs and Its Results" in Azerbaijan’s Baku on November 26, Trend reports.
The event brought together representatives from government entities, the private sector, business groups, and independent experts.
Opening the event, Samira Musayeva, Deputy Head of the State Tax Service, stated that the main objective of the meeting was to present the results of implemented and planned changes in tax legislation and administration, as well as the outcomes of collaboration with relevant government institutions and business associations. The event also aimed to discuss new directions for further cooperation.
Participants discussed the impact of tax reforms on business activities in Azerbaijan, the improvement of related legislation, and the active involvement of businesses in the process. It was noted that tax reforms play a crucial role in supporting the country’s new economic development priorities and initiatives for a transition to sustainable practices.
Vusal Shikhaliyev, Head of the Economic Policy and Industrial Affairs Department at the Presidential Administration of Azerbaijan, emphasized that improvements resulting from cooperation between the public and private sectors are more effective and contribute to more sustainable and comprehensive development.
Nijat Imanov, Head of the Main Department of Tax Policy at the State Tax Service, presented on "Cooperation with Business Associations and Entrepreneurs and its Results," while his deputy, Avaz Guliyev, discussed "Planned Changes to the Tax Code for 2025."
Shaban Abdullayev, Head of the Tax Policy and Revenue Department at the Ministry of Finance, provided information on the "Centralized Electronic Registry System" in the context of tax and customs benefits.
The event also saw discussions on proposed changes to tax legislation and responses to questions raised by the attendees.
Nijat Imanov noted that tax benefits for agricultural producers have been extended. He explained that non-sales income from these activities, as well as subsidies, are exempt from taxes until 2027.
"Dividend income from agricultural enterprises will be tax-exempt for four years starting in 2023. Additionally, tax benefits have been introduced for agro-processing activities. The sale of meat from animals and poultry is now exempt from VAT," he added.
Avaz Guliyev also highlighted that under the "Public-Private Partnership" project, private partners are eligible for tax exemptions on profits, income, property, and land taxes, as well as import duties.
"This project is primarily aimed at attracting large-scale investments," Guliyev noted, adding that it mostly targets projects worth over 30 million manat ($17.6 million) in strategic sectors. The benefits of this project apply for a period of up to 30 years.
He also mentioned that similar incentives will support the green economy, particularly in renewable energy projects, including those related to electricity generation.