Finance

Finance

Azerbaijan Parliament begins to review Bill on Special Economic Zones

08 April 2009 15:33 (UTC +04:00)

Baku. Rashad Suleymanov - APA-Economics. Azerbaijani Milli Majlis Parliamentary Commission on Economic Policy has today discussed the Bill on Special Economic Zones for the third reading at a plenum.
MP Vahid Ahmadov recommended considering some issues related to the customs and tax exemptions.
According to him, imposing 2% tax in the Special Economic Zones are not correct because this tax rate is now applied throughout the country, with the exception of Baku.
He also dismissed the idea that companies will do all work from the construction of communications infrastructure to the establishment of enterprises.
In his view, the government should undertake some part of the work at the initial phase.
Other MPs proposed reducing the 1-year probationary period for resident operators, as well as expanding the range of customs and tax privileges.
Jamil Alizade, Officer of the Ministry of Finance, said more tax breaks and other incentives might be offered in the future as part of amendments to the law.
Ziyad Samedzade, the Chairman of the Parliamentary Commission on Economic Policy, said that the bill will be discussed on 14 April again.