The “Startup Certificate” has been issued since 2021. During this period, 238 business entities have obtained this document. According to the information, 211 (88.7%) of those who received the certificate are legal entities, and 27 (11.3%) are individuals - individual entrepreneurs.
It should be noted that the “Startup Certificate” is issued by the Small and Medium Business Development Agency (SMEDA) for the purpose of applying tax breaks to startups. Micro and small business entities that receive the certificate are exempt from profit and income tax on income from innovation activities for 3 years from the date of their receipt, in accordance with the Tax Code of the Republic of Azerbaijan.
The certificate is intended for solutions based on an innovative initiative, competitive and different from other startup products and services.
