Baku, Azerbaijan, Dec. 28
By Taleh Mursagulov - Trend:
Investment companies in Azerbaijan need tax breaks, Chairman of Managing Board of Association of Azerbaijan Stock Market Participants (AASMP) Jeyhun Ibrahimov told Trend.
"Of course, tax breaks are one of the main incentives that create conditions for the development of each company. On the other hand, it should be noted that nowadays local investment companies are at the stage of development, and from this point of view they need additional support," Ibrahimov said.
The AASMP regularly meets with investment companies and sees the importance of this kind of support for them, the chairman of the board noted.
"We have previously sent our proposals on this issue to the Ministry of Taxes and hope that we will receive a positive decision in the future changes in the tax code," he said.
Ibrahimov underlined that the adoption of the AASMP's proposals could help increase the authorized capital of investment companies: "And this, in turn, may lead to the development of the securities market in Azerbaijan as a whole," he further added.
Presently, there are seven investment companies operating in the stock market of Azerbaijan.
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