The President of the Republic of Azerbaijan Mr. Ilham Aliyev approved the "Law of the Republic of Azerbaijan on Amendments to the Tax Code of the Republic of Azerbaijan".
Thus, media entities (except for audiovisual media entities) are exempted from income, profit and simplified taxes on income, advertising income, and relevant material assistance provided to them from their activities, and the presentation of media products produced by them is exempted from value added tax for a period of 3 years. .
Regarding the issue, the Executive Director of the Media Development Agency of the Republic of Azerbaijan, Ahmad Ismayilov, told APA that this decision is a clear example of the attention paid by Mr. Ilham Aliyev to the country's media.
"First of all, we should note that it is necessary to increase the volume of the advertising market in order to strengthen the economic independence of media subjects, reduce their funding from the state budget, including other sources, and ensure their independent activities.
The state's strategy of supporting the development of the media has had the experience of exempting it from VAT at different times, and this has had a positive effect on the improvement of the economic situation of the media," said Ahmad Ismayilov.
The executive director emphasized that the strengthening of the economic stability of the Azerbaijani media, the development of an independent, strong media capable of establishing its activity at the level of today's requirements and guided by the national interests of our people is a priority of the state policy.
"The President of the Republic of Azerbaijan Mr. Ilham Aliyev's approval of the "Law of the Republic of Azerbaijan on Amendments to the Tax Code of the Republic of Azerbaijan" is a valuable contribution to strengthening the economic independence of our media.
On behalf of the media community of our country, we express our deep gratitude to the head of state for his attention and concern," said Ahmad Ismayilov.