BAKU, Azerbaijan, October 29.
New support measures will help strengthen Azerbaijan’s ICT sector
and boost its export potential, the Chairman of the Board of
Azerbaijan’s Innovation and Digital Development Agency (IDDA), told
reporters on the sidelines of a briefing dedicated to legislative
changes in technology and innovation in Baku on Thursday, Trend’s correspondent
reports from the event.
"Starting January 1, 2027, tax incentives will come into effect,
and the registration process for technoparks will be simplified.
Furthermore, the range of companies eligible for technopark
resident status is being expanded.
In addition to enterprises operating in software development and
system integration, this will now include companies focused on
cybersecurity, artificial intelligence, the Internet of Things
(IoT), robotics, data analytics, as well as the export of services
related to ICT education and consulting," he said.
According to the head of the agency, enterprises registered in
technoparks will be exempt for a period of 10 years from several
taxes, including those on income, profits, dividends, property, and
land.
Osmanov emphasized that the goal of these changes is to
strengthen the ICT sector, diversify the non-oil economy, attract
additional investment into technology companies, and create
conditions for increasing the export of ICT products and
services.
"Furthermore, the legislative amendments provide for tax
incentives for investments in startups made through crowdfunding
platforms and venture capital funds.
Measures have also been established to attract highly qualified
professionals to the country, including freelancers and so-called
'digital nomads.' These include, among other things, simplified
registration procedures and special tax conditions.
Specific support measures are also in place for companies that
invest in the research and development of innovative products and
services," he noted.
