Azerbaijan eyes to change import customs duties
Baku, Azerbaijan, Oct. 25
By Anvar Mammadov – Trend:
Azerbaijan’s State Customs Committee has submitted proposals to the Cabinet of Ministers regarding transition to a three-level customs tariff system, which envisages changing customs duties on raw materials and goods imported to the country, the committee head Aydin Aliyev told Trend Oct. 25.
Proposals for the transition from a multi-level to a three-level differentiated tariff system provide for the preservation of customs duty rates at 0, 5 and 15 percent in Azerbaijan.
Today, the customs rates of 0, 0.5, 1, 3, 5, 10 and 15 percent are applied in the country.
It is proposed to exempt the majority of the goods (raw materials and equipment) from customs duties.
“It is proposed to raise the custom duties for the import of finished products to Azerbaijan to 15 percent,” Aydin Aliyev noted. “On the one hand, this will stimulate and support domestic production, and on the other hand, it will prevent the outflow of foreign currency.”