The import of machinery, technological equipment and devices by individual entrepreneurs and legal entities that are producers under electricity generation projects with a state purchase obligation not lower than the amount determined by the body (institution) determined by the relevant executive body, based on a confirmation document from the body (institution) determined by the relevant executive body, is exempt from customs duties for the period determined by the electricity purchase contract concluded in accordance with the Law "On the Use of Renewable Energy Sources in Electricity Production", but not more than 30 years (including the construction period), APA reports.
This is reflected in the proposed amendment to the Law "On Customs Tariff" that was put to discussion at today's session of the Milli Majlis (Azerbaijani Parliament).
The draft law was put to a vote and adopted in the third reading.
The law will enter into force on January 1, 2025.
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