Bank Of Baku

Azerbaijan to launch zero-tax innovation zones

Azerbaijan  to launch zero-tax innovation zones
# 15 October 2009 14:46 (UTC +04:00)
Baku. Aynur Veliyeva - APA-ECONOMICS. Azerbaijan’s Ministry of Communications and Information Technologies has sent proposals to the parliament suggesting zero-tax in regional innovation zones.

Rufat Gulmammadov, Head of the Information Society Department at the Ministry, said there is a need to adopt a set of relevant legal documents for this initative.

"Upon completion of this procedure, it is intended to reduce tax and customs duties up to zero," he added.

The project is believed to give impetus to the development of small and medium enterprises, attraction of new investors into the country, the development of human resources, increase of the production of electronic equipment and the export potential of the country.


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