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Azerbaijan provides tax benefits to hotel owners

Economy Materials 5 December 2023 19:25 (UTC +04:00)
Azerbaijan provides tax benefits to hotel owners
Elchin Mehdiyev
Elchin Mehdiyev
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BAKU, Azerbaijan, December 5. Tourism entities (inns, hotels and sanatoriums) will be granted tax exemptions in order to develop regional tourism and reduce their fixed tax expenses in Azerbaijan, Trend reports.

This issue was reflected in an amendment to the Tax Code, which was discussed today at a meeting of Azerbaijan's Milli Majlis (Parliament).

According to the draft, except for the cities of Baku, Sumgayit, Khirdalan and Absheron district, in other cities and districts of Azerbaijan the tax on immovable property used in hotel and sanatorium activities (except for cases of temporary cessation of entrepreneurial activity in accordance with Article 16.3 of the Tax Code) shall be reduced by 75 percent for a three-year period from January 1, 2024.

After discussion, the amendment was put to a vote and approved in the third reading.

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