Nakhchivan residents may be exempt from most taxes for 10 years

Residents of the Nakhchivan Autonomous Republic may be granted tax exemptions for a period of 10 years, according to the draft of Azerbaijan's 2026 state budget package, Report informs.

The proposed amendment to the Tax Code envisions that, starting from January 1, 2026, Nakhchivan-based residents will be exempt from profit (income), property, land, and simplified taxes for ten years.

Additionally, dividend income earned by shareholders or participants of legal entities registered in the region will also be exempt from taxation for the same ten-year period beginning on January 1, 2026.

The initiative aims to stimulate economic development and investment in the Nakhchivan Autonomous Republic by creating a more favorable fiscal environment for local businesses and residents.