Tax incentives to be granted to Heydar Aliyev Oil Refinery — tax officia

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The Heydar Aliyev Oil Refinery will receive tax incentives as part of its modernization and technological upgrade projects, said Nicat Imanov, head of the Tax Policy Department at the State Tax Service, during parliamentary discussions on amendments to the Tax Code.

According to Imanov, equipment and technological units imported under the refinery’s modernization project will be exempt from value-added tax (VAT).

“VAT exemptions are planned for technological equipment and installations imported for the modernization of the Heydar Aliyev Oil Refinery,” he noted.

He added that these measures are aimed at reducing capital costs and ensuring the financial sustainability of the project.

Under the draft law, the tax incentives will remain in force for three years and will apply exclusively to imports related to the refinery’s modernization and improvement efforts.

N.Tabrizli