Investment Promotion Documents Received by 79 Businesses

In 2016, investment promotion documents were received by 79 business entities, including six individual businessmen, Turan was told in the Ministry of Economy.

The businessmen were issued 84 investment promotion documents. On the basis of these documents, 61 subjects of entrepreneurship received supporting documents.

During the year, the Economy Ministry received 117 applications from 97 entrepreneurs for investment promotion documents.

The decree "On additional investment promotion measures" was signed in January 2016. In the same month, the new provisions of the law ‘On Customs Tariff’ took effect, according to which technologies, manufacturing equipment and facilities imported on the basis of investment promotion documents are exempted from payment of customs duties and VAT. This provision of the law is valid for 7 years.

Moreover, entrepreneurs who have received investment promotion documents will pay 50% tax on profits. They are also exempt from tax on land and property for 7 years.   ----08B

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