The Tax Code of Azerbaijan should include a special approach and a separate concept for the country's liberated territories, MP Vugar Bayramov said, Report informs.
Bayramov made the remark at today's meeting of the Committee for Economic Policy, Industries and Enterprising of Azerbaijan’s Milli Majlis (Parliament).
"Tax incentives are a positive step, but they must align with our tax philosophy, promote competition in the economy, and not hinder it. I suggest that this matter be reviewed. We support the application of incentives in the liberated territories. However, there should also be principles in place to protect competition. It's necessary to introduce the concept of a special tax zone in the legislation related to these territories to ensure it does not limit the competitive opportunities for entrepreneurs operating outside these areas," he noted.
Sahib Alakbarov, Deputy Minister of Economy of Azerbaijan, who also attended the meeting, stressed that the purpose of tax incentives is to revive the liberated territories. "This is more important because our goal is not just competition, but to revitalize the liberated territories, to produce goods there, so that people go to those areas, settle down, and live there," Alakbarov explained.