The Economic Development Ministry of Azerbaijan completed devising the bill On export activities in oil and gas sphere, the Economic Development Minister Heydar Babayev informed Trend.
It was verified in all bodies and developed taking into account the proposals and recommendations. We await the decision of the Cabinet of Ministers of Azerbaijan to submit the bill to the Presidential Apparat and Milli Majlis [Azerbaijani Parliament]. It would be accurate to specify the privileges, presented in accordance the order of the Cabinet of Ministers, in form of law, the Minister underlined.
The privileges for the companies exporting their commodities, services and works will be intended once and it is their release from the payment of value added tax (VAT). Babayev considers this privilege as enough.
The primary goal of the bill is to decrease the tax loads for the foreign companies entered into registration in Azerbaijan and carrying out operations outside the country. These companies include Technip, Total, Bos Shelf and Mersk appealing to the Government with proposals to present tax privileges to participate in the regional projects realized outside the country.
As their activities on the projects in Azerbaijan concluded, they receive orders from Kazakhstan. Continuing operations from Azerbaijan, the companies should follow the legislation of Azerbaijan such as customs and taxes.
