12:13 - 4.12.2024

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December 4, Fineko/abc.az. According to the proposed changes to the Tax Code, which are expected to come into force from the new year, large tax benefits will be applied to the cultural sector.

ABC.AZ informs that MP, economist Vugar Bayramov wrote about this on his social network account.

He said that the goal is to stimulate development of this sector by attracting more investments:

"At that, this may lead to lower costs for a number of services in the cultural sector, as well as lower prices.

According to the changes, starting from next month, the cultural sector will be granted full exemption from land tax and 90 percent exemption from income tax for a period of 5 years. At that, the amount of the income tax benefit will be increased from a 75% discount to a 90% discount."