Azerbaijani parliament adopts bill on exempting agricultural subsidies from income tax

By Trend

Non-operating incomes of legal entities engaged in agricultural production and subsidies provided to these entities from the state budget funds for agricultural production should be exempted from income tax for one year, from January 1, 2023, Trend reports on November 18 via the amendments to the Tax Code proposed at a meeting of Azerbaijani Parliament.

It was also proposed to exempt dividend incomes of legal entities and individuals who are members of resident legal entities engaged in agricultural production (including industrial means), from January 1, 2023, for a period of 1 year.

The relevant bill was put to the vote and adopted in the first reading.