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BAKU, Azerbaijan, November 2. The
earnings of authorized entities engaged within the manufacturing of agricultural
merchandise in Azerbaijan will likely be exempt from taxes for one more three
years, Development experiences.
That is mirrored within the draft legislation “On the State
Finances of the Republic of Azerbaijan for 2024”, which was submitted
for dialogue at present on the assembly of Azerbaijan’s Milli Majlis
(Parliament) Committee on Financial Coverage, Trade, and
Entrepreneurship.
The earnings of authorized entities engaged within the
manufacturing of agricultural merchandise (together with by industrial means)
from this exercise are exempt from taxation from January 1, 2014,
for a interval of 13 years. The present laws reveals that this
interval was established on January 1, 2014, for a interval of 10
years.
As well as, the earnings of authorized entities engaged in
the manufacturing of agricultural merchandise (together with by industrial
means), exterior of gross sales for this exercise, subsidies supplied at
the expense of the state finances to authorized entities engaged within the
manufacturing of agricultural merchandise, in addition to the dividend earnings
of resident authorized entities engaged within the manufacturing of
agricultural merchandise (together with industrial manufacturing), is exempt
from taxation for a interval of 4 years from January 1, 2023.
Within the present laws, this era is supplied
for a interval of 1 yr from January 1, 2023.
Keep updated with extra information at Development Information
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