Azerbaijan exempts investors from state duties
Baku, Azerbaijan, Oct. 14
By Azad Hasanli – Trend:
Investors who put their funds in Azerbaijan in accordance with the Build-Operate-Transfer (BOT) model have been exempt from the state duties.
The corresponding amendments to the law “On state duty” were approved by Azerbaijani MPs at the plenary session of the country’s parliament Oct. 14.
In accordance with the BOT model provided by the law “On implementation of investment projects due to construction and infrastructure facilities on the basis of specific funding,” the investment costs will be reimbursed to investors through the purchase of their products by authority or consumers.
However, if such form of payment is wholly or partly impossible, then the investor will be paid financial aid.
The validity of a contract concluded within the framework of the BOT model cannot exceed 49 years.