Azerbaijan, Baku, April 10 / Trend H. Valiyev /
The participants of high-tech parks in Azerbaijan will be fully exempt from tax payments and customs duties, head of the department of strategic planning, investment and scientific potential under the Azerbaijani Communications and IT Ministry Elchin Zeynalov said at the 'Startup Azerbaijan' conference today.
He added that the decision was made at governmental level.
"One can say that the companies that participate in a high-tech park will be fully exempt from tax payments for a period of seven years," he said. "It is planned to use fiscal and monetary benefits in the future. The work is already underway. As a result, the ICT sector will be revived in the country.
The concept of development until 2020 has been adopted in Azerbaijan. It is planned to double the country's GDP as part of this document's implementation for the next eight to10 years.
"The non-oil sector of the economy will have a major role," he said. "Special attention is paid to ICT in the non-oil sector. Today, this area shows high growth rates. Every year more and more revenue to the state budget fall to this area."
