BAKU, Azerbaijan, April 8. The share of industrial zones in investments in the non-oil sector of the Azerbaijani economy amounted to 23.8 percent in 2021, Trend reports with reference to the Azerbaijani Ministry of Economy.
To date, residents of industrial zones in Azerbaijan have saved more than 426 million manat ($250.5 million) through VAT on imports and customs benefits applied in industrial parks managed by the Agency for Development of Economic Zones.
Residents of industrial parks are exempt from paying property tax, land tax, income tax for 10 years from the date of their registration, and VAT on imports of machinery, technological equipment and industrial installations and customs duty for seven years.