Azernews.Az

By Vugar Khalilov

Azerbaijan's Media Development Agency (MEDIA) Executive Director Ahmad Ismayilov has said that a proposal has been made to provide tax benefits to media entities, Trend has reported.

Ismayilov made the remarks at a meeting with representatives and heads of media entities.

"It is proposed to exempt media subjects from income tax and VAT. Representatives of some ministries expressed their views on this issue. After the document is ready, it will be submitted for discussion," he stressed.

The director underlined that work is being carried out in Azerbaijan to strengthen the economic independence of the local media outlets and the issue was discussed with the representatives of the economy and finance ministries.

Furthermore, he noted that a document has been prepared to amend the Tax Code, which envisages tax benefits for media entities for a period of five years.

"In addition, it is planned to create a platform between MEDIA and business entities. New rules for media support projects have been prepared. Along with 18 print media, financial support for 39 websites has begun for the first time," Ismayilov added.

He said that the Agency is holding discussions with the Small and Medium Business Development Agency (SMBDA) on the relevant proposals for the media.

Ismayilov stressed that it is planned to provide media entities with the opportunity to use preferential loans.

The Media Development Agency was set up in January 2021 under President Ilham Aliyev's decree to support the development of the media in Azerbaijan, to continue institutional building work in this area, and to stimulate the introduction of new information and communication technologies and innovations.

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