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Azerbaijan has introduced new tax exemptions for the import of rare vehicles, with amendments to the Tax Code officially entering into force on March 25, AzerNEWS reports.

Under the updated rules, the import of qualifying classic cars is now exempt from VAT, excise duty, and customs duties, a move expected to significantly reduce costs for collectors and importers.

According to the legislation, vehicles are considered “rare” if they are more than 40 years old and have their engine, body, and chassis in original condition or restored to match factory specifications.

The exemptions apply under specific conditions:
*Imports must be supported by a confirmation document from the relevant state authority
*An individual may import no more than one rare vehicle per year, with a nationwide cap of 10 vehicles annually

The new framework is designed to regulate the niche market while encouraging the preservation and import of classic automobiles into the country.