In connection with the holding of the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) in the Republic of Azerbaijan, incomes of non-resident individuals involved in the provision of goods, conducting of works and provision of services within the scope of this activity are exempt from income tax for a period of 9 months from March 1, 2024 on the basis of the confirmation document of the body (institution) determined by the relevant executive authority, this was reflected in the amendment to the Tax Code, which President of the Republic of Azerbaijan Ilham Aliyev has signed a Decree on its implementation, APA reports.
According to the law, in connection with the holding of the 29th session of the Conference of the Parties (COP29) of the United Nations Framework Convention on Climate Change in the Republic of Azerbaijan, royalty income paid by the Ministry of Ecology and Natural Resources to a non-resident legal entity for 9 months from March 1, 2024 for the use of copyrights on intangible assets or the granting of rights of use, and in connection with the holding of the 29th session of the Conference of the Parties (COP29) of the United Nations Framework Convention on Climate Change in the Republic of Azerbaijan, based on the confirmation document of the Ministry of Ecology and Natural Resources, the incomes obtained from the performance of works and the provision of services by non-resident legal entities are exempted from tax for a period of 9 months from March 1, 2024.
In connection with the holding of the 29th session of the Conference of the Parties (COP29) of the United Nations Framework Convention on Climate Change in the Republic of Azerbaijan, the performance of works and provision of services by non-residents based on the contract concluded with the body (institution) determined by the relevant executive power body, as well as the import of goods based on the contract with the Ministry of Ecology and Natural Resources, are VAT exempt for a period of 9 months from March 1, 2024.