Support for production activities in the territories liberated from occupation continues
The tax and customs privileges applied in the territories liberated from occupation create conditions for stimulating production activities and developing various industrial sectors.
In order to improve the investment climate, stimulate production activities, and develop entrepreneurship in the territories liberated from occupation, various support mechanisms are applied for residents of these territories, 1news.az reports, citing Azerbaijan's Ministry of Economy.
Within this framework, legal entities and individuals registered for tax purposes in the Karabakh and East Zangezur economic regions and directly operating in these territories are exempt, until January 1, 2033, from paying value added tax (VAT) and customs duties on the import of machinery, technological equipment and installations, as well as raw materials and supplies for the relevant types of economic activity.
Enterprises creating production capacities in the territories liberated from occupation, including in industrial parks, have already received exemptions from taxes and customs duties totaling 17.4 million manats with respect to imported machinery, technological equipment, as well as raw materials.
Within the framework of these and other applied privileges and support mechanisms, the region produces such industrial goods as textiles, construction materials, electrical equipment, vehicles, and others.
It should be noted that in order to obtain the specified privileges, the Ministry of Economy accepts documents both in physical and electronic form. The list of machinery, technological equipment and installations, as well as raw materials and supplies intended for import for the relevant types of activity, was approved by Decree No. 269 of the Cabinet of Ministers of the Republic of Azerbaijan dated August 5, 2023.
