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EUR
GBP
RUB
USD
TRY
1.8588
2.2103
0.0192
1.7
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EUR
1.8588
GBP
2.2103
RUB
0.0192
USD
1.7
TRY
0.0514

SMBs to benefit from multiple tax benefits by joining an SMB cluster

SMBs to benefit from multiple tax benefits by joining an SMB cluster



Commercial legal entities seeking to establish an SMB cluster are encouraged to apply to KOBİA for an SMB cluster certificate.

Micro, small and medium business owners are offered to get a variety of tax benefits by establishing an SMB cluster. An SMB cluster company and its stakeholders are eligible for a number of tax benefits as stipulated by the legislation. Thus, the SMB cluster company is exempted from land and property tax for profits, land utilized in SMB cluster operations, and VAT for the import of technological equipment and facilities for a period of 7 years from the date of formal registration. For a period of 7 years, a stakeholder in the SMB cluster is exempted from profit or income tax on the part of profit or income earned from goods supplied in accordance with the terms of the contract signed with the SMB cluster company.

A commercial legal entity seeking to enjoy the benefits provided for the SMB cluster is required to obtain an SMB cluster company certificate. For this purpose, a commercial legal entity are encouraged to apply to the Small and Medium Business Development Agency (KOBİA) in writing (Address: block 1969, 38C Ziya Bunyadov, Baku) or electronically (info@smb.gov.az).

In order to apply for an SMB cluster company certificate, a commercial legal entity is required to submit these following documents to the Agency: an application, as well as a list of at least 10 micro, small or medium business entities seeking to be a stakeholder of the SMB cluster and their applications for participation in the operations of the SMB cluster, a functional map of the SMB cluster, an original of the adopted decision on amending to the charter of the legal entity, and a copy of the project on making relevant changes to the charter. The application and other documents can be downloaded from the link: https://smb.gov.az/az/nav/kob-klaster 

SMB cluster is a set of SMB cluster companies and SMB cluster members that are formed based on their placement in the same or similar economic sectors, within a specific geographical area, sharing labour force, a single market and services; They are linked by establishing mutually beneficial business relations, complementing one another, and cooperating.

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