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Ministry of Communications: Azerbaijani IT-companies to Receive Tax and Customs Preferences
Source: turkishweekly.net
Source Date: Saturday, September 21, 2013
Country: Azerbaijan
Created: Sep 23, 2013

In the next two months tax and customs benefits will be granted to the companies involved in the ICT sector in Azerbaijan, a report of Azerbaijani Ministry of Communications and Information Technologies said on Friday.

 

"Relieving them from taxes and customs duties will improve the profitability and efficiency of business in the ICT sector," the statement said.

 

Earlier Azerbaijani Minister of Communications and Information Technologies Ali Abbasov said that the Ministry has prepared proposals to reduce customs duties on imports of the high-tech products.

 

According to the Minister, the customs duty for the import of computers is three percent, while the duty on import of parts for production of computers is 10-15 percent of the cost.

 

"Due to the dynamic growth of the automation process of the various state institutions there is a high level of imports of high-tech products in the country," Abbasov said.

 

In addition, the development of the ICT sector in Azerbaijan and increasing its competitiveness requires optimization of the tax legislation in this area and issuing preferential credits.

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