BAKU, Azerbaijan, September 17. Azerbaijan has invited Iraqi companies to take part in projects in the liberated territories, Minister of Economy of Azerbaijan Mikayil Jabbarov said at the Azerbaijan-Iraqi business forum in Baku today, Trend reports.
"We are actively facilitating the attraction of private investments for the development of liberated territories, where a favorable investment climate has been created," noted the minister.
He mentioned that, to increase the attractiveness of capital investments in projects on these liberated territories, Azerbaijan introduced tax exemptions on income, property, land, and simplified taxes for 10 years starting from January 1, 2023.
"Machinery, technological equipment, and devices, as well as raw materials, are exempt from VAT and import customs duties for 10 years starting from 2023. Additionally, dividend income for shareholders of legal entities is tax-exempt," Jabbarov added.
He expressed confidence that the business forum in Baku will strengthen trade and economic cooperation between businesspeople from both countries.
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