Baku to host shopping festivals annually

The Ministry of Culture and Tourism has been instructed to ensure the holding of annual shopping festivals jointly with Baku City Executive Power.

Jointly with the Ministry of Taxes and the State Customs Committee, the Ministry of Culture and Tourism should prepare proposals on provision of benefits, including tax benefits in retail sales during shopping festivals within a month.

Annually, funds will be allocated from the state budget for holding shopping festivals.

In accordance with another decree, the president allocated 400,000 manats to the Ministry of Culture and Tourism from the Presidential Reserve Fund provided in the 2016 state budget for holding shopping festivals in Baku.