Baku:Starting January 1, 2027, the technopark registration process will undergo significant simplification, as announced by Farid Osmanov, Chairman of the Innovation and Digital Development Agency (IDDA), during a media briefing focused on legislative amendments in technology and innovation.
According to Azeri-Press news agency, Osmanov revealed that enterprises and ICT companies registered in the technopark will benefit from an exemption from income, profit, dividend, property, and land taxes for a period of 20 years.
Osmanov stated that the primary aim is to bolster the ICT sector within the country, diversify the non-oil economy, foster an attractive environment for ICT enterprises to draw more investment, and boost the nation’s ICT exports. The legislative framework will also include expanding the scope of eligible companies to include those involved in cybersecurity, artificial intelligence, the Internet of Things (IoT), robotics, data analytics, and the export of ICT training and consulting services, in addition to software development and system integration.