Over 340 SME entities receive startup certificates in Azerbaijan

The number of small and medium-sized enterprises (SMEs) that have received startup certificates has exceeded 340 in Azerbaijan, Deputy Minister of Economy Azer Bayramov said during the discussion of the draft law "On the State Budget for 2027" at a joint meeting of the Milli Majlis committees on Youth and Sports, Public Associations and Religious Entities, and Culture, Report informs.

According to him, starting in 2027, the period of tax benefits for SMEs will be extended from 3 to 7 years: "In addition, from 2027, a package of tax incentives for a period of 20 years will be introduced for residents of technology parks with a state participation share of less than 51%. It includes exemptions from profit, property, and land taxes, social insurance benefits, as well as a zero income tax rate on employees' salaries. For large entrepreneurs, this benefit will be applied under a certain export condition. A legal framework for venture funds and crowdfunding has been created. This will allow entrepreneurs to finance their ideas not only through bank loans but also through investor capital."