Azerbaijan abolishes exemption from customs duty
Azerbaijan abolished exemption from customs duties for goods imported with external financing.
The move was the result of the changes made by Azerbaijan's Cabinet of Ministers to the current decision on the rates of customs duties for export-import operations.
The exemption had been held since April 22, 1998, and will end on December 19, 2013.
The decision, announced on November 19, states that goods brought to the country through the foreign loans of individuals, legal entities, foreign governments, international organizations, and also from Azerbaijan's share in the projects for which external financing was used will be excluded from the list of goods that are free of the import customs duties.
According to the decision, the changes do not apply to goods imported through financial aid, grants, and technical assistance.
This decision of the Cabinet of Ministers shall come into force 30 days after its publication.
The Cabinet extended the term of exemption from import duties and value-added tax for a range of imported goods for another three years.
The current decision was made in March 2011 for a period of three years. According to the amendments, the validity of this decision will expire in March 2017.
Previously, in order to promote non-oil sector import of breeding stock, legumes, sunflower seeds, sugar beet, fertilizers, cream separators, and a number of other substances, equipment and facilities used for agricultural purposes were exempted from the above payments.
Adapted from Today.az