15:57 - 10.01.2023
January 10, Fineko/abc.az. Some of the recent changes made to the Tax Code are aimed at increasing investment attractiveness.
ABC.AZ reports that according to the Tax Code, machinery, technological equipment and installations imported by residents of an industrial or technological park and taxpayers who have received an investment incentive document for the construction of production facilities, research and development work and for production purposes are exempt from VAT during import.
But taxpayers not belonging to this category had to pay large amounts of taxes to the customs authorities for the same transactions, which led to difficulties in their financial situation. With the latest changes in legislation aimed at eliminating these circumstances, stimulating investment in the country, imported fixed assets are exempt from VAT.
The import of fixed assets, the list of which will be approved by the Cabinet Ministers, will not be subject to VAT indefinitely.
