Elkhan Shiriyev: More concessions expected for businessmen in Karabakh

There are a number of concessions for business people working in the liberated territories of Azerbaijan, and increasing these concessions is currently under consideration, Deputy Chairman of the Board of Economic Zones Development Agency Elkhan Shiriyev said at the special session of the Caspian Energy Forum dedicated to the economic cooperation between Azerbaijan and Turkiye, held in Baku today, Report informs.

According to him, there are also discussions over extending tax and customs concessions by 15 years, and exempting several raw materials from customs duties.

“This will increase the attractiveness of industrial parks created in the liberated territories,” Shiriyev added.

The residents of industrial parks are currently exempt from profit, property and land taxes, and VAT for imported machinery, technological equipment and facilities for 10 years from the date of their registration. In addition, the park residents are exempted from customs duties for imported machinery, technological equipment and devices for a period of 7 years.