Minister: “A more competitive tax environment will be created for startups.”
A more competitive tax environment will be created in Azerbaijan for the information and communication technologies (ICT) sector and startups.
According to Startup.az, this was stated by Minister of Economy Mikayil Jabbarov during his speech at the forum titled “A Look into the Future of the Tax System: A New Governance Model and Data-Driven Decisions” held in Baku.
The minister noted that a more flexible tax policy is planned for the ICT sector, startups, and highly qualified specialists as part of efforts to build a competitive and innovation-oriented business environment in the country.
“In this area, increasing tax incentives aimed at the use of artificial intelligence technologies has been identified as one of the key priorities. The measures being implemented are intended to ensure Azerbaijan’s transformation into an economy based on high technologies. In this context, a supercomputer center has already started operating in the country, significant digitalization projects are being implemented, and work is ongoing to strengthen the knowledge and skills potential of human capital,” he added.