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New tax incentives are being introduced in Nakhchivan to support business development
New tax incentives are being introduced in Nakhchivan to support business development
Residents of the Nakhchivan Autonomous Republic will be exempt from profit (income), property, land, simplified taxes, and customs duties for a period of 10 years starting from January 1, 2026.
This provision is reflected in the proposed amendments to the Tax Code and the Law on “Customs Tariffs,” discussed today at the meeting of the Parliamentary Committee on Economic Policy, Industry, and Entrepreneurship.
According to the draft law, dividend income of shareholders (participants) of legal entities that are residents of the Nakhchivan Autonomous Republic will also be exempt from taxation for 10 years starting from January 1, 2026.
A “resident of the Nakhchivan Autonomous Republic” refers to legal and natural persons registered for tax purposes in the Nakhchivan Autonomous Republic or under centralized tax registration and directly operating within its territory.
Under the amendments to the Tax Code, the import of raw materials and supplies for production, research, and experimental design work will be exempt from VAT for 10 years from January 1, 2026, if carried out by legal entities and individual entrepreneurs that are residents of industrial or technology parks established by the relevant executive authority within the Nakhchivan Autonomous Republic, based on a confirming document issued by the authorized body.
Similarly, legal entities and individual entrepreneurs that are residents of industrial districts established by the relevant executive authority within the Nakhchivan Autonomous Republic will be exempt from VAT for 10 years from January 1, 2026, on the import of machinery, technological equipment, devices, raw materials, and materials used for production purposes, based on a confirming document issued by the authorized body.
According to the proposed amendment to the Law on “Customs Tariffs,” these goods will also be exempt from customs duties during the same period.
Residents of the Nakhchivan Autonomous Republic will be exempt from profit (income), property, land, simplified taxes, and customs duties for a period of 10 years starting from January 1, 2026.
This provision is reflected in the proposed amendments to the Tax Code and the Law on “Customs Tariffs,” discussed today at the meeting of the Parliamentary Committee on Economic Policy, Industry, and Entrepreneurship.
According to the draft law, dividend income of shareholders (participants) of legal entities that are residents of the Nakhchivan Autonomous Republic will also be exempt from taxation for 10 years starting from January 1, 2026.
A “resident of the Nakhchivan Autonomous Republic” refers to legal and natural persons registered for tax purposes in the Nakhchivan Autonomous Republic or under centralized tax registration and directly operating within its territory.
Under the amendments to the Tax Code, the import of raw materials and supplies for production, research, and experimental design work will be exempt from VAT for 10 years from January 1, 2026, if carried out by legal entities and individual entrepreneurs that are residents of industrial or technology parks established by the relevant executive authority within the Nakhchivan Autonomous Republic, based on a confirming document issued by the authorized body.
Similarly, legal entities and individual entrepreneurs that are residents of industrial districts established by the relevant executive authority within the Nakhchivan Autonomous Republic will be exempt from VAT for 10 years from January 1, 2026, on the import of machinery, technological equipment, devices, raw materials, and materials used for production purposes, based on a confirming document issued by the authorized body.
According to the proposed amendment to the Law on “Customs Tariffs,” these goods will also be exempt from customs duties during the same period.