Page 23 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.71, # 2, 2014, pp. 21-30

Value-Added Tax (VAT) on certain products to be used in the development of non-oil sector;

implementing certain measures simplifying customs procedures; temporary exemption from

import tariffs and VAT on certain material and capital goods to be used by cement factories;

temporary exemption from VAT imports of wheat, wheat flour or wheat-rye flour; exemption of

VAT for imports of machinery, technological equipment and installations for specified

purposes, temporary elimination of import tariffs and reduction of import excise duties on

petroleum oils (February 2014); Exemption of import tariffs and VAT for certain goods used in

foreign economic activities in the non-oil sector (exemption extended in March 2014 until March

2017) and etc.) have been implemented by Azerbaijan in order to boost economic development

in the country.

Increasing social and economic welfare of population, as well as ensuring economic

prosperity will remain the major priority of socio-economic policy during the upcoming years. In

order to develop rural areas, eliminate discrepancy between the capital and regions, diversify the

economy, ensure socio-economic development and economic stability, the following State

Programs have been adopted in Azerbaijan: State Programme on reliable food supply of

population in the Azerbaijan Republic (2008-2015); State Programme on poverty reduction and

sustainable development in the Republic of Azerbaijan (2008-2015); State Programme on socio-

economic development of the regions of the Republic of Azerbaijan (2014-2018); State

Programme for the development of industry in Azerbaijan (2015-2020).

3. Intellectual property rights

Significant results have been achieved in the use of intellectual property for the

economic, social and cultural development in Azerbaijan. Azerbaijan attaches great importance

to the promotion, protection and enforcement of intellectual property rights. The issues related to

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