Startups working in digital technology, artificial intelligence and innovation, along with technology park residents, will be exempt from several taxes for 10 years starting January 2027, according to Farid Osmanov, head of Azerbaijan’s Innovation and Digital Development Agency (IDDA).
Farid Osmanov, chairman of the Innovation and Digital Development Agency’s Board, said technology park residents will receive a full exemption from income tax, profit tax, property tax and land tax under the new tax relief scheme. The benefit will last a full decade, he said. He made the announcement at a press briefing on recent legislative changes in the technology and innovation sector.
Osmanov said the move would give a boost to Azerbaijan’s innovation sector. He added that the tax breaks would allow startups to expand their operations and would create a more favorable business environment for technology companies.
