12:31 - 9.04.2020

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April 9, Fineko/abc.az. A range of tax incentives and vacations will be provided to businesses working in spheres affected by the pandemic.

ABC.AZ reports that the above-said statement was made by Deputy Economy Minister Sahib Mammadov on TV channel AzTV.

According to Mammadov, the relevant proposals will be approved in the next few days: "Special attention is paid to micro- and medium-sized businesses. They will be subject to tax incentives for a certain period of time. At the same time, with taking into account the current situation, population’s needs for food and medical products will be taken into account. We know that Azerbaijan does not produce enough medical products. They are imported in the country, and in the future, certain customs, tax duties and a tax on the import of raw materials are applied for their production in Azerbaijan. These benefits will also be applied in this area, so that VAT will not be applied for some time. At the same time, early exemptions from current income tax, income tax and property tax are provided. We believe that such tax incentives will be important for restoring the activity of business entities."

 

By Elmir Murad