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Export duty for brass and bronze to be increased 20 times from tomorrow

05 September 2016 09:45 (UTC +04:00)

Baku. Ramiz Mikayiloglu - APA. According to a decision on amendments to the decision#80 of the Cabinet of Ministers dated 12.04.2001 on “Rates of custom duties on export-import operations in the Azerbaijan Republic”, the tax rate for brass and bronze exporting from Azerbaijan will be increased 20 times from tomorrow.

Current export duty is $15 per 1,000 kg of copper and copper products.

In other words, the rate of export duty of unrefined copper (copper anodes for electrolytic refining), alloy of copper and zinc (brass), alloy of copper and tin (bronze) and other alloys of copper (except ligature), copper waste and scrap (refined copper and alloys of copper) will be 10 percent of customs value of these goods but not less than $300 for per 1,000 kg.

So, the export duty for such type of copper and copper products is increased up to 20 times.

The decision will be valid for 5 years.