Residents of industrial park in Azerbaijan may be exempt from paying customs duties

By Trend

Residents of the Garadagh Industrial Park in Azerbaijan can be exempted from paying customs duties and VAT for another five years, Trend reports.

This is provided for by amendments to the law "On Customs Duties" and the Tax Code of Azerbaijan.

The relevant draft law was discussed on September 15, 2021, at a meeting of the Committee on Economic Policy, Industry, and Entrepreneurship of the Parliament.

The draft law also provides for the exemption from customs procedures of raw materials intended for domestic production.

After discussions, the bill was recommended for consideration at the plenary session of the Parliament.