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Azerbaijan to introduce VAT and customs duty exemptions for bus production

27 December 2024 13:51 (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 was reflected in the amendments to the Tax Code approved by Azerbaijani President Ilham Aliyev, APA reports.

According to the 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, according to the amendments proposed to the “Customs Tariff Law”, 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 1, 2025.

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