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Companies operating in the High Technology Park to be free from taxes and customs duties in Azerbaijan

10 April 2013 10:48 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. The companies operating in the High Technology Park will be free from taxes and customs duties, said the Head of the Department of the Ministry of Communications and Information Technologies Elchin Zeynalov, APA-Economics reports.

To him, this decision has already been approved by the state and those companies will be free form taxes and customs duties for 7 years: ‘It is considered to apply fiscal and monetary concessions in future’.

Touching recent rapid development of ICT sector in Azerbaijan, Zeynalov said that the volume of GDP in the coming 7-8 years will grow by 2 times within the framework of Azerbaijan’s development concept and it will be achieved at the cost of non-oil sector: ‘The role of ICT is very important in development of non-oil sector of the country. This sector develops rapidly and the revenues to state budget from ICT sector increase year by year’.