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.
