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Azerbaijani Parliament's committee discusses amendments to Tax Code

19 December 2022 16:50 (UTC+04:00)
Azerbaijani Parliament's committee discusses amendments to Tax Code

By Trend

Taxpayers engaged in system integration, elaboration and development of software outside a technology park in Azerbaijan should receive the status of a technology park resident and, on this basis, tax benefits, Trend reports on December 19.

This issue has been reflected in the proposed amendments to the Tax Code, which were discussed at a meeting of the Parliament’s Committee on Economic Policy, Industry and Entrepreneurship.

According to the amendments, the following tax benefits should apply to this category of taxpayers:

System integration, application of income tax benefits to individuals working for taxpayers, carrying out activities for the elaboration and development of software (zero percent for monthly income up to 8,000 manat or $4,705, five percent of the amount over 8,000 manat for three years from January 1, 2023, and five percent of the amount of monthly income for seven years from January 1, 2026);

Exemption of individual entrepreneurs working in this area from income tax, and legal entities - from tax on profits received from this activity (including the provision of services for the improvement, technical support and training of buyers);

Exemption from tax on dividends paid by persons working in this area at the source of payment for 10 years from the reporting year in which the technology park registration certificate was received;

Exemption of persons working in this area from property and land taxes.

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