BAKU, Azerbaijan, December 30. The President of Azerbaijan has signed a number of documents related to the ICT sector, providing for changes to relevant laws and codes. Thus, from January 1, 2023, Azerbaijan will be included in the list of countries where the largest benefits will be applied to the ICT sector in the region, Minister of Digital Development and Transport of Azerbaijan Rashad Nabiyev wrote on his Facebook page, Trend reports.
As a result of these changes, significant tax incentives will apply to companies operating in the field of ICT, individuals working in these companies, including foreign specialists. Along with this, there are significant benefits associated with mandatory social state insurance payments for both local employees and attracted foreign specialists, and other benefits.
"The main purpose of the changes made is to stimulate the development of the ICT sector in Azerbaijan, attract new players to this field and turn our country into a regional ICT center. Benefits are also important in terms of foreign ICT companies opening branches or representative offices in Azerbaijan, attracting foreign investment," the publication says.
Nabiyev added that attracting foreign specialists and international companies to this area, along with economic activity, will also make an important contribution to the development of the business environment and the start-up sphere in Azerbaijan, and the country already has such experience in the energy sector.
"I believe that the amendments made to laws and codes will revitalize the ICT sector and contribute to the further development of the business sector," the publication says.