Tax breaks and exemptions in Azerbaijan are set to total 7.6 billion manat in 2027.
“Operative Information Center-OMM” reports that Deputy Head of Staff at the Ministry of Finance Asif Gasimov made the statement at a meeting of the Milli Majlis (National Assembly) Committee on Economic Policy, Industry and Entrepreneurship held today.
He said the amount would equal 5.4% of the gross domestic product (GDP) forecast for next year. “This is 630 million manat, or 0.4 percentage points, more than the amount of tax breaks and exemptions expected by the end of 2026. By comparison, tax breaks in Georgia amount to 4.6% of GDP, in Türkiye to 4.5%, and in Organisation for Economic Co-operation and Development (OECD) countries to 4.7%,” he said.
“Broken down by the bodies responsible for budget revenues, tax breaks and exemptions on tax revenues will amount to 4.2 billion manat next year, 9% more than this year, while those related to import operations will total 3.4 billion manat, up 11% from this year. By economic sector, breaks and exemptions of 436 million manat are envisaged for the oil and gas sector and 7.1 billion manat for the non-oil and gas sector. Both components are expected to rise by 9% compared with this year. Of the 7.6 billion manat total, 4.4 billion manat falls under the ‘tax break’ category and 3.2 billion manat under ‘exemption’,” the tax official added.
