Azerbaijan extends tax exemption for agricultural producers
Azerbaijan has extended the tax preferences of agricultural producers for five more years. On November 22, the Azerbaijani parliament approved changes to the law 'On provision of temporary tax preferences to agricultural producers'.
According to the changes to the law, starting from January 1, 2014, individuals and legal entities engaged in the production including industrial production of agricultural products, will be once again exempt from all taxes except land tax for a period of five years.
Tax preferences for agricultural producers have been implemented
in Azerbaijan since 2001.
These preferences implemented in Azerbaijan, allowed agricultural
producers to save 1.4 billion manats (approx. $1.7 billion).
In this period the volume of agricultural production in the country increased from 1.2 to 4.8 billion manats.
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