According to APA, several goods are exempted from customs duty in the draft law on “Customs tariff”, which was entered the parliament from Presidential Administration and discussed at the economic policy committee of the parliament.
According to law, certain cargos, luggage and fishing Azerbaijani ships and material support withdrawn from customs area to provide activity of the ships leased by Azerbaijani legal entities and individuals, fuel, food, medicine and other products are exempted from customs duty. At the same time, national currency, foreign currency and securities are exempted from the duties.
At the same time, personal belongings of migrants, household equipments, instruments for labor activity are exempted from the duties.
Besides, the project says relevant executive agency may impose considered tariff concessions for concrete period on the import of equipment providing modern technology and stuff to develop the concrete sphere if it is impossible to pay the production needs from local stuff.
If incorrect value is offered to any good by any customs officer and the court considers it correct, that officer is brought to disciplinary responsibility along with arresting.
During the discussions, MP Vahid Ahmedov said that intensive talks are being held to enter World Trade Organization and several problems can be resolved after entering the organization: “The document must be drafted in accordance with the WTO requirements”.
Chairman of Committee Ziyad Samadzadeh noted that competitive products must be produced in the country to protect the domestic market, increase export.
After discussions, the draft law was recommended to plenary meeting of Milli Majlis.
- 24/07/2015 TuranBank ends first half of 2015 with loss
- 24/07/2015 Azerbaijan reduces car import from Georgia 5.4 times year-on-year
- 24/07/2015 AFB Bank ends H1 with AZN 2.5 mln profit
- 24/07/2015 Fitch withdraws Bank Technique's ratings without affirmation
- 24/07/2015 US dollar drops, euro rises in Azerbaijan
- 23/07/2015 IBA Supervisory Board’s new composition announced
- 23/07/2015 Azerbaijan Industry Bank sees decline in incomes
- 23/07/2015 Azerbaijan sees 17.5% rise in premiums, 8.8 times rise in payments in life insurance market
- 23/07/2015 Azerbaijan increases premiums 13%, decreases payments 1% in non-life insurance
- 23/07/2015 Over 60% of insurance market in Azerbaijan formed voluntarily
- 23/07/2015 ZaminBank gets 3% rise in assets
- 23/07/2015 Euro rises in Azerbaijan
- 22/07/2015 New composition of IBA Supervisory and Management Board approved
- 22/07/2015 CDB gets AZN 3.4 mln profit in first half of 2015
- 22/07/2015 Ministry: “Social benefits and pensions for July will be paid by Kapital Bank”
- 22/07/2015 US dollar drops, euro rises in Azerbaijan
- 21/07/2015 Bank Silk Way gets AZN 2 mln profit in first half of year
- 21/07/2015 Two more specialists appointed to Ateshgah Life Insurance’s Management Board
- 21/07/2015 Ministry of Finance: H1 state budget was executed with deficit of AZN 770.7 mln
- 21/07/2015 GunayBank gets 2.4 times rise in assets
- 21/07/2015 Two new members appointed to Kredagro Supervisory Board
- 21/07/2015 US dollar rises, euro falls in Azerbaijan
- 16/07/2015 MCB Leasing attracts loan from abroad
- 16/07/2015 Salary rises 4% in Azerbaijan
- 16/07/2015 Azerbaijan’s foreign trade operations reach $11 bln
- 16/07/2015 Azerbaijan sees 4.4% rise in budget transfers through customs authorities
- 16/07/2015 Azerbaijan halves car import
- 16/07/2015 AccessBank sees sharp rise in assets
- 16/07/2015 Deposits in Azerbaijan Credit Bank will be returned to owners in accordance with legal requirements - Central Bank
- 16/07/2015 US dollar rises, euro drops in Azerbaijan
- 16/07/2015 AccessBank’s assets reach AZN 1.2 bln
- 15/07/2015 Elman Rustamov: "After the devaluation of the exchange rate of manat has almost reached its point of stability"
- 15/07/2015 Chamber of Accounts appeals to prosecutor general’s office against Arif Mammadov
- 15/07/2015 International Bank of Azerbaijan’s troubled assets to be managed by Agrarcredit
- 15/07/2015 Azerbaijan sees 13% growth in commodity market
- 15/07/2015 Rabitabank redcuses investments in securities
- 15/07/2015 Rabitabank sees profit in first half of 2015
- 15/07/2015 Number and average monthly salary of workers in Azerbaijan’s economy announced
- 15/07/2015 Azerbaijan sees 5% rise in personal income
- 15/07/2015 Azerbaijan Credit Bank’s licence cancelled