Azerbaijani agricultural producers save over $1.7 bn over 10 years thanks to tax benefits
Azerbaijan, Baku, Sept. 19 / Trend, A. Akhundov /
Tax exemptions allowed Azerbaijani agricultural producers to save 1.4 billion manat over 10 years. Agricultural producers are exempted from all taxes except a land tax in Azerbaijan, the Ministry of Agriculture told Trend on Thursday.
The state has subsidized agricultural producers with 645 million manat over 10 years, of which 378.3 million manat were directed to the preferential sale of fuel and motor oil, 145 million manat - for grain sowing operations and the rest - for the preferential sale of fertilizers and purchase of high-yield seeds.
Aqrolizinq state leasing company provided farmers with 17,151 pieces of equipment and machinery over these 10 years.
Moreover, around 14,481 entrepreneurs were provided with preferential loans worth 650.1 million manat for agricultural projects over 10 years. The projects will create 60,000 new jobs.
Around 6,290 heads of cattle were purchased and imported over the border during the reporting period.
The official exchange rate is 0.7845 AZN/USD on June 19.