Criteria for determining the startup and the rules for issuing a “startup passport”
Explanation of the decisions of the Cabinet of Ministers No. 20 and 21
Legal or natural persons who meet the criteria and obtain a “Startup” certificate in accordance with Decision 20 shall be entitled to use the exemption provided for in Article 102.1.31 or 106.1.23 of the Tax Code of the Republic of Azerbaijan and from the date of receipt of the “Startup” certificate Legal entities that are micro or small business entities are exempt from income tax on income from innovative activities, and individuals operating as sole proprietors are exempt from income tax for a period of 3 years.
At the same time, the “Rules for maintaining an open register of innovative projects and issuing a” Startup “passport” approved by the 21st Resolution, the application of innovative projects, ie research and development and their results in order to achieve economic or social benefits determines the procedure for maintaining a register of information open to the public in connection with projects related to the activities aimed at the creation and implementation of new or improved goods (works, services), technological process.
The purpose of the register is to ensure transparent, flexible and efficient use of the database by the public by creating a centralized open database of innovative projects in the country.