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New customs instruments set to significantly foster Azerbaijan's economy - official

Economy Materials 17 December 2024 13:00 (UTC +04:00)
New customs instruments set to significantly foster Azerbaijan's economy - official
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, December 17. New instruments presented today in the customs sector (Digital Customs Value System, Digital Value) will significantly foster Azerbaijan's economy, Chairman of the State Customs Committee of Azerbaijan Shahin Baghirov said on the sidelines of the customs business forum, Trend reports.

"Our main task is to move forward together with businesses and entrepreneurs, implementing tools that are both practical to use and contribute to the economic development of the country. The solutions developed and presented are largely based on digital technologies and are similar to those applied internationally.

Undoubtedly, taking into account the national specifics and existing practices in Azerbaijan, we are confident that these tools will have a significant positive impact on the country's economy. The digital determination of customs value is being implemented in stages, and the first stage has already been successfully completed.

Determining the customs value is one of the key issues in customs activities, especially in the process of importing goods," he said.

According to him, while export operations in Azerbaijan are largely exempt from customs duties, customs payment calculations mainly concern imports.

"Calculating customs payments requires the formation of customs value based on methodological principles approved by the Cabinet of Ministers of Azerbaijan and international norms, including the rules of the World Trade Organization. This creates a more transparent environment for business, as the calculation indicators are based on international practices.

Moreover, this allows entrepreneurs to be informed about the payments imposed and to timely pay them into the state budget. It is important to note that the main participants in this process are entrepreneurs. Their activities determine the customs value, which then becomes the basis for calculating customs payments.

These funds, when deposited into the state budget, are used to improve the living standards of all citizens—whether it’s for pensions, education, construction, or restoration work in liberated territories.

Thus, the payment of customs duties plays a key role, and we must actively cooperate with the media to emphasize its importance. Everyone should understand that these funds are directed towards improving the welfare of all of us," added Baghirov.

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