BAKU, Azerbaijan, February 10. Tax benefits are provided for residents of the economic zones of Karabakh, potential investors, and entrepreneurs, said a representative of Azerbaijan's Ministry of Economy Zain Badirkhanov at the "Heydar Aliyev and Azerbaijan's tax system: to new challenges" event, Trend reports.
According to him, the relevant changes at the legislative level have already been adopted, and some issues are at the final stage of consideration.
"We are also working on simplifying employment procedures and attracting highly qualified specialists to the liberated territories, as well as on the issue of lump-sum benefits," he said.
Badirkhanov noted that for the non-cash payments for hotel services on the liberated territories, the VAT refund will be 30 percent, while if the payment is made in cash, the VAT refund will be 5 percent.
"In addition, subsidies are provided in order to provide entrepreneurs with state-guaranteed funding. For instance, if an entrepreneur wants to borrow a certain amount, the state will act as a guarantor of a certain part of it," he added.