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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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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