Residents of Mingachevir High-tech Park Exempt from Import Taxes

The resolution of the Cabinet of Ministers on July 10 made addition to the regulations on customs duties on the import and export of goods. This decision of the government makes residents of the Mingachevir high-tech park exempt from import taxes for a period of 7 years.

According to this decision (http://www.azerbaijan-news.az/index.php?mod=3&id=74879), it is a list of goods, which customs duties will not be levied from when imported. These are: notable device hard disks, replacement parts computers, electronic modules, monitors, electronic integrated circuits, processors, controllers, etc.

Resolution of the Cabinet of Ministers on July 10 for №264 was published in the press today, the 29th of July. It shall enter into force after 30 days.

LLC Mingachevir High Technology Park of the Ministry of Communications and High Technologies was established in February 2015 by the decree of the President of Azerbaijan. It has not passed official registration in the Ministry of Taxes.

To ensure the activity of the high-tech park in Mingachevir 1.3 hectares of land was allocated.

In November 2012, it was also decided to establish a high-tech park with the same ministry, which will operate in the district Pirallahi of Baku. ----08D