Azerbaijani parliament exempts from taxation assets passed to subsidiaries in oil and gas industry

On Friday, the Azerbaijani Parliament approved the draft amendments to the Tax Code.

In order to simplify calculations and facilitate addressing the efficient use of assets, there are plans to exempt from taxation the assets, fixed assets, movable property and other assets to be transferred free of charge to the ownership of subsidiaries and related entities in Azerbaijan in accordance with the PSAs in the oil industry, export pipelines and other similar agreements, the chairman of the parliamentary committee on natural resources, energy and ecology Valeh Aleskerov said, presenting the draft law.


/Trend/