One of the important changes proposed to the tax law concerns the stimulation of export-oriented activities. In this direction, additional tax incentives are expected to be introduced for taxpayers engaged in export activities." This is what the head of the country's number, Orhan Nazarelli, said at the meeting of the Milli Majlis committee for economic policy, industry and entrepreneurship.
According to him, the proposed incentive measures cover not only the export of goods, but also the export of services, which aims to expand the opportunities of local businesses to enter foreign markets and increase export potential. "In case of non-compliance with tax obligations within the stipulated time frame, it is proposed to halve the interest rates accrued for days late. Additionally, additional incentive components are provided that aim to encourage the payment of financial sanctions in a short time. To increase investment activity, the project grants additional tax benefits to several industries. The tourism industry is given two important innovations for the rest of the year. The period of validity of property tax benefits for real estate used for hotel businesses in the regions, also, it was proposed to exempt establishments operating in this area from income tax or profit tax for providing services to foreign tourists," noted Orhan Nazarli.