The State Customs Committee has prepared and submitted to the government proposals to change the rates of customs duties and taxes. This was at a meeting with Turkish businessmen in Azerbaijan, said the head of State Customs Committee Aydin Aliyev.
"Rates of tax and duties on raw materials needed for production of goods in Azerbaijan will be reduced. In parallel, it is planned to increase the rate for identical goods produced in the country," he said.
These measures are carried out in order to protect local production and its development.
In Azerbaijan, there is a norm that frees importers from VAT on the importation of raw materials for food production. From this year on customs duties and taxes for a period of 7 years exempted imported equipment and goods for investment purposes. ----08D
Economics
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Kazakh Energy Minister Almasadam Satkaliyev said on Monday that Kazakhstan and Azerbaijan continue to discuss prospects for transporting Kazakh oil through the Baku-Supsa oil pipeline, which has been idle since spring 2022, Kazakh media reported.
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The supply of Azerbaijani gas to North Macedonia will transition to a regular basis in the mid-term, an informed source told Turan.
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In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
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Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
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