Investments

  • Updated 19.11.2021 02:11
  • Created 03.08.2017 11:10

About the Mechanism  of Investment Promotion Document

 

 The Investment Promotion Mechanism was established by the Decree No. 745 dated January 17, 2016 of the President of the Republic of Azerbaijan “On Additional Measures to Promote Investment”, the Decree No. 877 dated April 20, 2016 on the approval of “Rules for the issuance of confirming document for the import of machinery, technological equipment and plants for legal entities and individuals who have received the Investment Promotion Document” and Decree No. 878 dated April 20, 2016 “On the approval of “Areas of economic activities related to investment, minimum amount related to the scope of investment project and administrative and territorial units which it will be implemented” in order to encourage the establishment of new industrial enterprises and attract investments in local industrial enterprises and favorable conditions were created for legal entities and individual entrepreneurs engaged in the industrial production to obtain tax and customs incentives.

Investment promotion document is a document that provides basis for obtaining concessions specified in the Tax Code of the Republic of Azerbaijan and the Law of the Republic of Azerbaijan “On Customs tariff”. These discounts include: 

- exemption from 50% of profit or income tax;

- exemption from land and property tax in full;

- exemption from customs duty and VAT for imported machinery, technological equipment and plants within the framework of the project.

By April 1, 2019, 350 investment promotion documents were submitted to 304 entrepreneurship subjects. As a result of the realization of the projects receiving investment promotion document, it was intended that more than 3 billion AZN will be invested in local production, and about 23,000 new jobs will be created.

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