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Azerbaijan exempts import of bicycle and scooter spare parts from customs duties until 2028

01 November 2024 10:56 (UTC +04:00)

The import duty on bicycle and scooter spare parts has been eliminated until 2028, the Cabinet of Ministers told APA.

The decision was made in order to optimize the import customs duties of imported bicycle and scooter spare parts to promote and support the industrial assembly of bicycles and scooters in the country, taking into account the requests received from local manufacturers.

Currently, in accordance with Resolution No. 500 of the Cabinet of Ministers of the Republic of Azerbaijan dated November 17, 2017, an ad valorem customs duty at the rate of 5 and 15 percent (and a specific customs duty for one spare part) has been established for the import of bicycle and scooter spare parts.

According to the decision, until 31.12.2028, the customs duty on the import of those spare parts for the purpose of industrial assembly at the industrial (assembly) enterprise was set at the rate of "0" percent.