Azerbaijan's transport ministry talks amending customs duties for imports
By Trend
In accordance with decree № 73 of Azerbaijan’s Cabinet of Ministers dated February 28, 2020, on amending its decree No. 91, the list of imported devices, parts and accessories has been revised, Deputy Minister of Transport, Communications and High Technologies Elmir Velizade, told Trend on Apr. 27.
The decree No. 91 of Cabinet of Ministers dated April 22, 1998, covers customs duty rates for export-import operations of the ministry.
According to the ministry’s document, legal entities that are residents of the Mingachevir High-Tech Park and individuals carrying out entrepreneurial activities without creating a legal entity are exempt from customs duties on imported equipment, spare parts and accessories in compliance with the approved list.
Pursuant to the amendment, the list of imported gadgets, parts and accessories for the commodity nomenclature of foreign economic activity has been expanded with the exemption of individuals carrying out entrepreneurial activities without forming a legal entity, as well as legal entities that are residents of the Mingachevir High-Tech Park, from customs duties.
This will allow residents to reduce the cost of production with utilization of these devices, parts and accessories, as well as to increase their export potential.
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