Azerbaijani agriculture producers might receive benefits

Business Materials 13 April 2006 18:18 (UTC +04:00)

The Tax ministry supports the prolongation of the tax benefits terms for agricultural producers. In order to support the agricultural development it is necessary to extend the benefits for another 5 years, the Tax minister, Fazil Mammedov told Trend.

The current tax holidays expire on January 1, 2008. They free producers from all taxes except the land tax.

Many developed countries continue to subsidize its agriculture, the minister said. Therefore, Azerbaijan will continue to support the agriculture sector by abolishing taxes or introducing some other measures. The given decision is taken by the government.

Besides, agriculture benefits are offered to the oil and gas companies. The total amount of all direct and indirect subsidies to agriculture and energy sectors reached $1 billion during the year.