Azerbaijan considers providing IT companies with tax incentives – MP

ICT Materials 10 December 2021 16:00 (UTC +04:00)
Azerbaijan considers providing IT companies with tax incentives – MP

BAKU, Azerbaijan, Dec. 10

By Sadraddin Aghjayev - Trend:

Companies working in the field of information technology in Azerbaijan may be provided with tax incentives, Chairman of the Committee on Economic Policy, Industry and Entrepreneurship of Azerbaijani Parliament Tahir Mirkishili said at the II Forum of Young Entrepreneurs, Trend reports.

According to him Mirkishili, relevant meetings have already been held with entrepreneurs working in this area, who have voiced certain requirements.

"One of the main requirements of IT companies concerns tax benefits. During the meeting with entrepreneurs, issues related to the simplification of the import of IT equipment into Azerbaijan, the exemption of its imports from taxes and fees were discussed. In the near future, appropriate steps will be taken in this direction," he said.

The MP noted that similar benefits are applied in many neighboring countries.

“There are entrepreneurs in Azerbaijan who are exempted or may be completely exempted from income tax for a period of up to eight years. However, in many countries, the practice of tax cuts is only 1-2 percent. For example, this model is used in Russia, Poland, Belarus, and Ukraine," Mirkishili added.


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