Follow us:
  • Facebook
  • Twitter
  • Google+
  • AppStore
  • RSS
Azernews.Az
Saturday April 17 2021
  • Latest
  • Nation
  • World
  • Business
  • Oil & Gas
  • Armenian Aggression
  • Nagorno-karabakh conflict
  • Editorial
  • Analysis
  • Lifestyle
  • Events
  • Healthcare
  • Culture
  • Sports
  • Travel
Home
  • Home
  • Nation
  • World
  • Business
  • Oil & Gas
  • Armenian Aggression
  • Nagorno-karabakh conflict
  • Editorial
  • Analysis
  • Lifestyle
  • Events
  • Healthcare
  • Culture
  • Sports
  • Travel

Azerbaijan's Parliament exempts import of some devices, equipment from taxes

2 February 2021 14:32 (UTC+04:00)
932

It is proposed to exempt from taxation the import of machine tools, equipment, and fixtures used in the jewelry industry in Azerbaijan, Trend reports.

By Trend

This issue is reflected in the amendments to the Tax Code, submitted for discussion at a plenary session of the Azerbaijani Parliament held on Feb.2.

Accordingly, in order to carry out reforms in the jewelry industry, prevent the outflow of foreign currency abroad, encourage local entrepreneurs involved in the production and processing of gold and silver jewelry, promote the development of such ancient professions as jewelry and painting, and support their activities, it is proposed to exempt from taxation from January 1, 2021, for a period of three years, the import on the basis of supporting documents of machines, equipment, and devices for the production and processing of jewelry made of gold and silver.

 

It is also proposed to exempt the sale of gold and silver in bars, coins, and pellets from the excise rate from January 1, 2021, for a period of three years.

Given that Azerbaijan’s liberated Kalbajar district has large reserves of gold, these tax breaks will contribute to the country's economy by ensuring the efficient use of the region's gold reserves.

After discussions, the amendment was adopted on first reading by vote.

--

Follow us on Twitter @AzerNewsAz  

  • #TAX CODE
  • #AZERBAIJANI PARLIAMENT

Related News

Speaker of Azerbaijani parliament meets with president of 75th session of UN General Assembly <span class="color_red">[PHOTO]</span>

Speaker of Azerbaijani parliament meets with president of 75th session of UN General Assembly [PHOTO]

10 April 11:15
Azerbaijani parliament chairperson meets delegation of Grand National Assembly of Turkey <span class="color_red">[PHOTO]</span>

Azerbaijani parliament chairperson meets delegation of Grand National Assembly of Turkey [PHOTO]

10 March 13:35
Azerbaijan starts vaccination of MPs

Azerbaijan starts vaccination of MPs

22 February 17:35
Azerbaijani parliament responds to US Senators in its statement

Azerbaijani parliament responds to US Senators in its statement

14 February 17:25
Azerbaijan abolishes parliaments Economic and Social Legislation Department

Azerbaijan abolishes parliaments Economic and Social Legislation Department

12 February 17:23
Azerbaijani parliament holds meeting on environmental situation in liberated lands

Azerbaijani parliament holds meeting on environmental situation in liberated lands

11 February 10:17
Azerbaijani parliament discloses date of next plenary session

Azerbaijani parliament discloses date of next plenary session

10 February 11:27
Azerbaijani parliament to hold meeting on ecological situation in liberated lands

Azerbaijani parliament to hold meeting on ecological situation in liberated lands

9 February 11:27
Azerbaijani MP meets with residents of Khudat city <span class="color_red">[PHOTO]</span>

Azerbaijani MP meets with residents of Khudat city [PHOTO]

28 January 16:26
Azerbaijan developing new bills

Azerbaijan developing new bills

25 January 15:29
  • Latest
  • Popular
16 April 20:17 • Azerbaijan discloses number of COVID-19 vaccinated citizens [PHOTO]
16 April 20:05 • Azerbaijan confirms 2,163 more COVID-19 cases, 2,251 recoveries
16 April 19:15 • Azerbaijani president, first lady sign obituary on famous film director’s death
16 April 19:00 • Azerbaijan expanding network of seismic stations [PHOTO]
16 April 18:50 • Photo capturing reaction to relative's death in Armenian attack on Azerbaijani Ganja named ‘Media Photo of Year’ in Turkey
16 April 18:40 • President of Afghanistan holds meeting with Nizami Ganjavi International Center [PHOTO]
16 April 18:24 • Azerbaijan Airlines’ Supervisory Board holds first meeting [PHOTO]
16 April 18:12 • No point in discussing Nagorno-Karabakh problem in previous context - Russian expert
16 April 17:58 • ADIF shares data on compensations paid to depositors of closed banks'
16 April 17:44 • Prices for precious metals up in Azerbaijan
16 April 17:30 • Azerbaijan shows footage from Memer village of Gubadli district [PHOTO/VIDEO]
16 April 17:29 • Azerbaijani oil prices disclosed
16 April 17:10 • National taekwondo fighter wins European bronze
16 April 16:49 • Armenian wounded commander gets first aid from Azerbaijani servicemen
16 April 16:40 • Roads being restored in Armenian-shelled Tartar [PHOTO]
16 April 16:30 • Army's missile, artillery batteries continue drills [PHOTO/VIDEO]
16 April 16:13 • Azerbaijanfilm studio updated its technical base [PHOTO]
16 April 15:54 • Azerbaijan shares footage from Aghdam's Baghbanlar village [VIDEO]
16 April 15:41 • Memorandum of Understanding on co-op between Azerbaijan and OIC in field of statistics approved
16 April 15:33 • Trade turnover with Uzbekistan up by 13 pct in 2020
16 April 11:53 • Turkey ranks first among investors in Azerbaijan’s non-oil sector [PHOTO]
16 April 13:15 • Armenia breaches int’l law by refusing to provide maps of minefields [PHOTO]
16 April 08:57 • Icherisheher Reserve, Italy`s Matera Municipality sign friendship treaty [PHOTO]
16 April 10:44 • Baku calls on Minsk Group to present proposals on post-war peace process
16 April 13:56 • Azerbaijani serviceman killed in mine explosion in liberated settlement
16 April 12:30 • Azerbaijan, Belarus discuss military-technical cooperation prospects
16 April 11:40 • Rafael Aghayev among 100 best athletes
16 April 10:15 • Turkey provided invaluable support to Azerbaijan in information war with Armenia - MP
16 April 16:30 • Army's missile, artillery batteries continue drills [PHOTO/VIDEO]
16 April 09:56 • Nizami's legacy highlighted in Baku [PHOTO]
16 April 13:30 • President Aliyev launches renovation work in Baku's Pirshaghi [UPDATE]
16 April 11:17 • Children's Library to host meeting with eminent writer
16 April 15:33 • Trade turnover with Uzbekistan up by 13 pct in 2020
16 April 16:49 • Armenian wounded commander gets first aid from Azerbaijani servicemen
16 April 11:30 • Russia ready to assist normalization of ties between Azerbaijan, Armenia
16 April 14:45 • Italian Senate delegation witnesses Armenian vandalism in liberated Aghdam [PHOTO]
16 April 10:00 • Azerbaijani president congratulates president of Djibouti
16 April 16:13 • Azerbaijanfilm studio updated its technical base [PHOTO]
16 April 13:50 • Azerbaijan enhancing support to SMEs [PHOTO]
16 April 13:32 • Mine clearing operations continue in Azerbaijan's liberated Aghdam
See more
AzerNews Newspaper
AzerNews
  • Facebook
  • Twitter
  • Google+
  • RSS

Information

About us Contacts Advertising Azernews In Print

News Archive

© 2021 AzerNews. All rights reserved