BAKU, Azerbaijan, February 2. Azerbaijan plans
to introduce a package of tax incentives as it prepares to host the
13th Session of the United Nations World Urban Forum (WUF13),
Trend
reports.
The measure is reflected in a draft law amending the Tax Code,
discussed at today’s plenary session of the Azerbaijani
Parliament.
Officials noted that Azerbaijan’s record in the field of urban
development played a key role in securing the forum. The decision
to hold WUF13 in Baku was formalized through a host country
agreement signed on December 22, 2023, between the Government of
Azerbaijan and the United Nations in 2026 and subsequently approved
by law.
To ensure the successful organization of WUF13 at the highest
international standards, authorities consider it appropriate to
grant a range of targeted tax exemptions to non-resident
participants involved in the event.
The measures include income tax exemptions for non-resident
individuals engaged in supplying goods, carrying out works, or
providing services within the framework of WUF13. Profit tax
exemptions will apply to royalty payments made to non-resident
legal entities for the use or transfer of rights to intellectual
property, as well as to income earned by non-resident companies
from works and services related to the forum. In addition, services
rendered and works performed by non-residents under contractual
agreements, along with the import of goods supported by official
documentation, will be exempt from value-added tax.
All tax incentives and exemptions will apply only based on
official confirming documents and will remain valid for one year
beginning on September 1, 2025.
The draft law was approved in the first reading after discussion
in the National Assembly.
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