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Azerbaijan extends more customs duties, VAT exemption for non-oil sector

Azerbaijan extends more customs duties, VAT exemption for non-oil sector

BAKU: The Cabinet Ministers of Azerbaijan has doubled the validity of its Decision #17 from 25 January 2011, which amends Decision #91 from 22 April 1998 on the rates of customs duties on export & import activities and Decision #11 from 31 January 2005 on the list of VAT-exempted imported goods.

Under Decision #325, the period of customs duty & VAT exemption during import, approved in 2011, was extended from 3 up to 6 years. Previously, preferential regime was effective until 1 March 2014 and now has been extended until 1 March 2017.

Preferential customs taxation covers breeding stock (heavy beasts, small cattle, hens), seeds, fertilizers, agricultural equipment and machinery, food processing machinery and packaging of goods, etc.