15:09 - 26.11.2024

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November 26, Fineko/abc.az. Entrepreneurs registered in the Nakhchivan Autonomous Republic and carrying out their main activities in the NAR should be exempt from property, land and simplified taxation taxes for 10-year term, ABC.AZ reports, quoting  Vugar Abbasov, the chairman of the NAR National Confederation of Business Organizations at the event "Cooperation with business associations & entrepreneurs & its results".

According to Abbasov, it is proposed to exempt from VAT the import of machinery, equipment, installations, raw materials and materials of residents who pay VAT for 10-year term, starting from January 1, 2025.

"In the trade and services sector, it is proposed to increase the amount of VAT reimbursable for consumers. These measures are aimed at stimulating entrepreneurship and accelerating the economic development of the region," Abbasov said.

In addition, a proposal has been put forward to extend the practice of state guarantees on loans and subsidizing interest rates applied in the liberated territories to Nakhchivan entrepreneurs. It is also proposed to allocate a special quota for the region for business loans given by the Entrepreneurship Development Fund.