Azerbaijani Economy Ministry talks on tax exemption for private entrepreneurs
By Trend
Azerbaijan provides special incentives to innovative startups, Deputy Economy Minister Sevinj Hasanova said at a panel discussion of ministers on the topic “Creative Industry: New Opportunities for Sustainable Development and Employment” at Baku Convention Center, Trend reports.
If private entrepreneurs and enterprises direct their income to the innovation sphere during three years, their profit will be exempt from tax, Hasanova noted.
In addition, broad preferences are also provided for enterprises with small and medium-sized business clusters, the deputy economy minister added.
“They can be exempted from income tax and land tax,” Hasanova said.
The deputy economy minister noted that Azerbaijan has created ample opportunities for the development of the creative industry.
Hasanova added that the main challenges the ministry faces are the acceleration of economic growth and rapid development of diversification.
No less important challenges are related to eliminating unemployment and ensuring decent employment for young people in Azerbaijan, said the deputy economy minister.
---
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!