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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Compliance/Regulation/Legal

Allocations for assets of Azerbaijan’s Oil Fund exempted from taxes

Posted on 19 December 2012

The Parliamentary Economic Policy Committee is considering today a bill on amendments to the Tax Code of Azerbaijan, the largest since 2009. Deputy Tax Minister Natig Amirov says that the bill proposes the amendments relating to the taxation of the operations of the State Oil Fund of Azerbaijan (SOFAZ).
“In accord with the amendments the finances directed for SOFAZ assets are exempted from income tax. The SOFAZ is also exempted from payment of VAT for import of physical gold purchased for placement of their assets,” Amirov said………………………………………..Full Article: Source


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