Azerbaijan

Azerbaijan

Tax exemption period in industrial and hi-tech parks has been extended

01 Jan 2020

On 1 January 2020, the last Tax Code amendment entered into force. Residents of industrial and hi-tech parks in Azerbaijan are now exempted from income, land and property taxes for 10 years, - up from previously 7 years. Furthermore, the period of VAT and custom duties exemption on importation of equipment and facilities for construction of production facilities was extended to 10 years.

Nature of measure:
  • Incentives
Type:
  • Promotion and facilitation (Special economic zones)
Industry:
  • Not industry specific
Inward FDI:
No
Outward FDI:
No
Sources: