Baku: Tax incentives are being introduced in connection with the 13th Session of the World Urban Forum to be held in Azerbaijan, APA reports. This development reflects an amendment to the Tax Code, which was discussed during a session of the Milli Majlis.

According to Azeri-Press news agency, the World Urban Forum 2026 (WUF13) is scheduled to take place in Baku. In preparation for this international event, the 'Host Country Agreement between the Government of the Republic of Azerbaijan and the UN on Holding the 13th Session of the World Urban Forum in Baku in 2026' was finalized and enacted into law on December 22, 2023.

In order to ensure the successful organization of WUF13, Azerbaijan plans to implement several tax exemptions targeting non-resident participants. These incentives include a personal income tax exemption for non-resident individuals who earn income through the supply of goods, performance of works, and provision of services related to WUF13.

Additionally, corporate profit tax exemptions are set to be granted for royalty income paid to non-resident legal entities under contracts for the use of copyrights on intangible assets. Furthermore, income earned by non-resident legal entities from performing works and providing services will also be exempt from corporate profit tax. The import of goods and the performance of works by non-residents under specified contracts will benefit from VAT exemption.

The application of these tax incentives will be contingent upon the submission of relevant supporting documentation and will be valid for a one-year period starting from September 1, 2025. Following deliberations in the Milli Majlis, the draft law encompassing these exemptions was put to a vote and subsequently adopted in the third reading.