SMB

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Business entities obtained "Startup" certificates 07.06.21

The Small and Medium Business Development Agency (SMBDA) issued the first “Startup” certificates to business entities. Among them, the “Chak-Chuk”, “Dr. Agro”, and “Bonpini” online platforms offering various services to citizens and entrepreneurs using the appropriate electronic resources and mobile applications.

“Cyber Security Lab” LLC’s www.cakcuk.az platform brings together consumers and service providers in approximately 180 areas such as house cleaning, repair, and hairdresser services, and is also designed to encourage legal entrepreneurship and formal employment. The “Bonpini” LLC’s www.bonpini.az online platform offers services to private living space tenants. The “Dr.Agro” LLC’s “Dr.Agro” program (www.dragro.az) provides those engaged in agriculture with the opportunity for using services such as crop planning, budget calculation, agronomist advice, development of individual plans for fertilization and pest control, and soil and water analysis.

The “Startup” certificate exempts SMBs from income tax and tax on income from innovation activity for 3 years from the date of receiving the certificate, according to the Tax Code of the Republic of Azerbaijan.

It should be noted that to obtain a “Startup” certificate, business entities should contact the SMBDA. The Expert Council considers applications according to the "Startup Determination Criteria" approved by the Cabinet of Ministers on January 29, 2021, and decides on the issuance of a "Startup" certificate. The Expert Council is composed of representatives of the ministries of Economy, Transport, and Communications and High Technologies, the State Agency for Public Service and Social Innovations under the President of the Republic of Azerbaijan, the Intellectual Property Agency, and the National Academy of Sciences, and as independent experts, the Public Association “Forum for the Internet Development in Azerbaijan”, Public Association “Azerbaijan Innovation Export Consortium”, and the commission for “Innovations and Digital Technologies” under the National Confederation of Entrepreneurs (Employers) of the Republic of Azerbaijan are represented.

For more information: https://bit.ly/3dETJqw