Azerbaijan Adopted Regulation of Duty Free

The Cabinet of Ministers announced today the official press adopted on October 30 ruling on the rules of the establishment and regulation of tax-free shopping stores. According to Turan, in the city of Baku today operates at least two such objects.

According to the rules implemented in the Duty Free goods for personal consumption, are not subject to customs duties and taxes and trade policy measures . Control over their operations, the customs authorities on the territorial principle . The shop ( trading rooms , auxiliary rooms and warehouses ) are considered as a customs control zone , and the goods are under customs control.

Duty Free may be established by resolution of the State Customs Committee. The permit is valid for a period of 5 years. SCC sets its own standards and requirements for the premises Duty Free.

Duty Free can function in airports, seaports, customs, border crossings , as well as in other areas of customs control. The latter may serve only members accredited in Azerbaijan diplomatic and consular missions and living with their family members.

Duty free shops provide quarterly information on the SCC and of the volume of incoming goods. First Duty Free was established in 2007 on the territory of the Baku International Airport. Today Duty Free Az is part of the group of companies Silk Way Holding, and includes 6 stores. This holding is under the patronage of the President of the State Joint-Stock Company Azerbaijan Airlines Jahanghir Askerov . Another shop Duty Free Diplomat Shop was opened in March 2011 by the group of companies Azgroup Holding. This holding company is owned by the family of Kamaleddin Heydarov and his companion from Iran Manouchehr Ahadpour. Both stores do not disclose their trading volumes. -08B -