What persons are exempt from taxes and duties for 10 years?

Residents of the Nakhchivan Autonomous Republic from today are exempt for a period of 10 years from income tax, property tax, land tax, simplified tax, as well as customs duties.

As reported by BAKU.WS, this is reflected in the amendments to the Tax Code and the law "On Customs Tariff," approved by President Ilham Aliyev.

According to the law, dividend income of shareholders (participants) of legal entities - residents of the Nakhchivan Autonomous Republic - are exempt from taxation for a period of 10 years, starting from January 1, 2026. Imports of raw materials and materials for the purpose of production, research and development activities are exempt from VAT from today for a period of 10 years.