Azerbaijan exempts grain imports from VAT

Economy Materials 12 February 2021 14:43 (UTC +04:00)
Azerbaijan exempts grain imports from VAT

BAKU, Azerbaijan, Feb. 12

By Elchin Mehdiyev - Trend:

The Parliament of Azerbaijan has amended the Tax Code during the meeting on Feb. 12, Trend reports.

Commenting on the amendments, Chairman of the Committee for Economic Policy, Industry and Entrepreneurship of the Parliament of Azerbaijan, Tahir Mirkishili, noted that during the discussion of the bill in the first reading, many proposals put forward by the MPs were taken into account.

According to Mirkishili, it was proposed that in the version of the bill prepared for the second reading, the period for exemption from VAT of the import and sale of grain, as well as the production and sale of wheat flour and bread, should be extended from 5 to 7 years (from January 1, 2017), the term of exemption from VAT for the production and sale of bran - from 3 to 5 years (from March 1, 2019).

Besides, it is proposed to impose excise taxes on tobacco for shisha and to set excise taxes for the electronic cigarette liquid at 100 manat ($58) per liter (in the first reading - 220 manat ($129) per liter).

After discussions, the proposals were put to a vote and adopted in the second reading.