BAKU, Azerbaijan, April 19. The Law of the Republic of Azerbaijan on "Licenses and Permits" has been amended, Trend reports.
President of the Republic of Azerbaijan Ilham Aliyev has signed the amendment into law.
According to the change, the third annex of the law, titled "List of Permits for Entrepreneurial Activities," has been revised. Specifically, Article 75 has been reworded as follows:
"Legal entities residing in industrial and technology parks, along with their managing organizations and operators, as well as individuals engaging in entrepreneurial activities without establishing a legal entity, shall be exempt from value-added tax and customs duties on the importation of machinery, technological equipment, and installations pertinent to the economic sectors and goods classifications designated for the liberated territories. These entities and persons are required to provide a supporting document for the importation of machinery, technological equipment, installations, raw materials, and supplies," the bill notes.
This legislative modification, pertinent to the importation of goods exempt from value-added taxation and customs levies for operations within the liberated zones, shall be operational from January 1, 2023, through January 1, 2033.
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