2024-04-30 16:25:48
The application of tax incentives for non-resident individuals in connection with COP29 in Azerbaijan will attract more non-residents to the work of COP29.
As Day.Az reports, Member of the Milli Majlis (Parliament) of Azerbaijan Vugar Bayramov told Trend about this.
He noted that the goal is to encourage participation in the process by both individuals and legal entities.
“This will also lead to the fact that more services will be offered during the event. In addition, this is important from the point of view of employment of the population, since the jobs created by non-residents in the provision of these services will be occupied by Azerbaijani citizens. Thus, tax benefits will lead to the creation of new jobs,” the deputy added.
It should be noted that the proposed amendment to the Tax Code on the application of tax benefits in connection with COP29 was adopted in the first reading at a meeting of the Milli Majlis on April 23.
According to the amendment, on the basis of a confirming document of the body (institution) established by the relevant executive authority, the income of non-resident individuals involved in the supply of goods, performance of work and provision of services in connection with the holding of the 29th session of the Conference of the Parties to the Framework Convention of the Organization in the Republic of Azerbaijan United Nations Climate Change Policy (COP29), are exempt from income tax for a period of 9 months from 1 March 2024.
Subscribe to our WhatsApp channel and stay up to date with the main news!