16:27 - 2.11.2023

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November 2, Fineko/abc.az. In Azerbaijan, tourism entities (hotels, hotels and sanatoriums) will be provided with tax benefits in order to develop regional tourism and reduce their fixed tax costs.

ABC.AZ reports that this was reflected in the Azerbaijan State Budget Package for 2024, submitted for discussion at today's meeting of the Parliamentary Committee on Economic Policy, Industry & Entrepreneurship.

Under the draft, with exception of the cities of Baku, Sumgayit, Khirdalan and Absheron district, in other cities and districts of the republic, from January 1, 2024, the tax on real estate used in hotel and sanatorium activities (except in cases of temporary suspension of business activities in accordance with Article 16.3 of the Tax Code) will be reduced for 3 years by 75%.