Azerbaijan offers income tax exemption in securities market

Baku. 17 October. REPORT.AZ/ Development of the capital market in Azerbaijan will enable the country's banks to attract cheaper and longer-term funds and have more financial instruments.

Report informs, Jalal Gasimov, First Deputy Chairman of PASHA Holding LLC Management Board, said at the event titled "Capital Markets in Azerbaijan: Opportunities and Perspectives", devoted to the anniversary of issue of bonds of the State Oil Company of Azerbaijan Republic (SOCAR).

He also added that development of the capital market can also facilitate the work of corporate clients, reduce their dependency on banks and lead to direct access opportunities to investors: "But macroeconomic stability is crucial for that".

J. Gasimov believes that in order to develop securities market, income from this field, dividends paid to investors must be exempted from tax, even temporarily.

Notably, currently, only revenues from bonds of the State Oil Company of Azerbaijan Republic (SOCAR) are exempt from taxation.