SMEs with start-up certificate in Azerbaijan to be exempted from income taxes - Minister

By Trend

Small and medium-sized business enterprises (SMEs) with start-up certificates in Azerbaijan will be exempted from paying taxes on income and profit from innovation activities for 3 years, the country’s Minister of Economy Mikayil Jabbarov wrote in his Twitter page, Trend reports on Mar.17.

Noting that the share of micro, small and medium-sized business enterprises in procurements is 2.3 billion manat ($1.3 billion), Jabbarov also tweeted that in the future, broader participation of the SMEs in public procurements will be encouraged.

Earlier, the minister said that the business environment in Azerbaijan will be further improved and measures will be taken to ensure that SMEs take an important position in the formation of the country's GDP, as well as to encourage their participation in the public procurements.