Clarification has been provided regarding President Ilham Aliyev returning the law “On amendments to the Tax Code of the Republic of Azerbaijan, the Migration Code of the Republic of Azerbaijan, and the laws of the Republic of Azerbaijan ‘On Social Insurance’, ‘On Customs Tariffs’, ‘On Licenses and Permits’, and ‘On Public Procurement’, adopted by the Milli Majlis of the Republic of Azerbaijan on July 14, 2026” to the Milli Majlis without signing it.
According to elchi, at today’s meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship, the committee chairman Azer Amiraslanov stated that the President of the Republic of Azerbaijan has proposed a number of significant and progressive amendments to the law adopted by the Milli Majlis, aimed at improving state support and incentive mechanisms for the innovation ecosystem.
The core concept of the law remains unchanged in the new version, and its objectives are preserved. The main goal remains to accelerate the development of an innovative economy in our country and to stimulate the attraction of private investment into this sector.
The proposals of the President of the Republic of Azerbaijan serve to improve the implementation mechanisms of the law while maintaining its original purpose. Thus, after the new amendments, state support for innovative activities becomes more targeted, focused, and results-oriented.
Deputy Minister of Digital Development and Transport Elmin Mammadov said that the document presents large-scale proposals that will take the development of the digital economy, ICT, the innovation ecosystem, and startups to a new stage. This reform aims to accelerate the country’s technological development by covering private technology entities belonging to the non-state sector with a state share of less than 51 percent. It was noted that for large business entities to benefit from these major tax concessions, a condition has been set that exports must account for a specific share of their total income and that funds must be brought into local banks. This new regime will apply to new residents who receive certificates after January 1, 2027, while existing residents will continue their activities without hindrance within the framework of their current legal status.
It was emphasized that these proposals create new opportunities in terms of reducing Azerbaijan’s dependence on the oil and gas sector, attracting intellectual capital to the country, and expanding the access of local innovative brands to the global market.
Then, First Deputy Minister of Economy Elnur Aliyev spoke about the key points of the concessions in the document, emphasizing that they are presented as a unified system. He noted the importance of the long-term nature of the concessions in terms of investment attractiveness and competitive opportunities.
Deputy Head of the State Tax Service Samira Musayeva provided information about the subjects of the tax incentives proposed in the document and their scope.
At the meeting, it was considered appropriate to adopt the updated law with the amendments proposed by the President of the Republic of Azerbaijan, and the relevant decision was unanimously supported by the committee members.