Industrial Park Privileges

Pursuant to the changes made to the Tax Code of the Republic of Azerbaijan, the Law “On social insurance” and the Law “On Customs tariff” on 6 May 2016, following privileges are established for residents of industrial parks engaged in activity established by relevant executive body, their contractors, and subcontractors who entered into direct agreements with contractors: 

based on the confirming document provided by the resident of the industry park   import of all products for the purpose of such activity is exempt from VAT for 5 years starting from May 1, 2016;
 
VAT at the rate of 0% is applied for provision of goods, works and services by contractors to residents of industry park or by subcontractors who have direct agreement with the contractors to contractors for the purposes of such activity for 5 years starting from May 1, 2016;
 
Foreigners engaged for the purposes of such activity by the residents of industry park, their contractors and subcontractors entered into direct agreement with contractors are exempt from  mandatory social insurance fee for 5 years starting from May 1, 2016;
 
Import of all kinds of products for the purposes of such activity by the resident of the industry park based of the confirming document of the relevant executive body are exempt from customs duties for 5 years starting from May 1, 2016.

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