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Azerbaijan to introduce VAT and customs duty exemptions for bus production

16 December 2024 12:16 (UTC +04:00)

Sales of buses manufactured in Azerbaijan, as well as the import of spare parts for production purposes based on supporting documentation, will be exempt from VAT, this is included in the proposed amendments to the Tax Code of Azerbaijan discussed during today's session of the Milli Majlis, APA reports.

According to the draft law, the sale of buses produced in Azerbaijan and the import of spare parts for their production by legal entities, supported by documents from the relevant executive authority (organization), will be exempt from VAT for a period of 8 years starting from January 1, 2025.

Additionally, amendments to the “Customs Tariff Law” propose that the import of bus spare parts for production purposes, with documentation from the relevant executive authority (organization), will also be exempt from customs duties for the same 8-year period starting January from 1, 2025.

The draft laws were put to a vote and adopted in the third reading.

Both laws will come into force on January 1, 2025.