New customs tariff law adopted in Azerbaijan

Photo: New customs tariff law adopted in Azerbaijan / Economy news

Azerbaijan, Baku, 13 June / Trend M. Aliyev, A.Akhundov /

Milli Mejlis (Parliament) of Azerbaijan adopted at the third reading a law 'On Customs Tariff'.

The bill defines the rules for shaping and application of customs and tariffs, including the withholding of customs duties on goods transported across the customs border. The document consists of five chapters and 23 articles.

The bill also requires the use of seasonal tariffs for the operational management of export and import operations in the country. The application of such duties cannot last more than six months. Today Azerbaijan has a system of tariffs, adopted in 2001. There are the rates of 0, 0.5, 1, 3, 5, 10 and 15 percent in the country.

This law is adopted to regulate the structure of imported goods, providing favorable ratio of monetary incomes and expenditures, protect the economy from the adverse effects of the competition, create the conditions for the country's integration into the world economy.

The document also reflects issues of declaring the customs value of goods, maintaining data privacy, the rights and obligations of declarators, the rights and duties of the customs authority, exemption from customs duties and tariff preferences.

The new version of the law was developed in accordance with in the country's new Customs Code. The active law 'On Customs Tariff' was adopted on June 20, 1995.

Do you have any feedback? Contact our journalist at agency@trend.az

Follow us on Twitter @TRENDNewsAgency