Hotel property tax to be reduced by 75% in Azerbaijan's regions

Starting next year, the property tax of hotels and sanatoriums in the regions of Azerbaijan will be reduced by 75% for three years, Report informs, citing the draft amendments to the Tax Code.

According to the draft, with the exception of the cities of Baku, Sumgayit, Khirdalan and the Absheron district, the tax on real estate used by hotels and resorts in other cities and regions of the republic, including Nakhchivan, will be reduced in 2024.