In order to stimulate capital investments by local and foreign entrepreneurs and create new jobs in the territory of the Republic of Azerbaijan (“Azerbaijan”), the President of Azerbaijan approved “The procedure for granting a certificate on the promotion of investments” by his Decree No. 745, dated July 18, 2017.
The entrepreneurs received the Investment Incentive Certificate is subject to the following benefits under the Tax Code and the Law on “Customs Tariffs” of Azerbaijan:
Benefits provided for by the Law "On Customs Tariff":
• Exemption of exported technical facilities, technological equipment and appliances from customs duties.
Benefits provided for by the Tax Code:
• 50% discount on corporate profit tax and (or) personal income tax;
• exemption of legal entities and individual entrepreneurs from land and property taxes;
• exemption from VAT on import of technical facilities, technological equipment and appliances.
Investment Incentive Certificate shall be issued by The Ministry of Economy of Azerbaijan.
The following documents are required to be submitted when applying for the certificate:
1) Application; 2) Copy of the applicant’s certificate on registration as a taxpayer; 3) Investment project (business plan); 4) Document confirming payment of 10% of the minimum amount determined by the investment area and pattern.
Upon submission of relevant documents, provision of the certificate is executed within 5 business days in accordance with the Law of Azerbaijan on Administrative proceedings and Rules approved by the Presidential decree No.878, dated April 20, 2016.
02 August 2019