BAKU, Azerbaijan, January 18. According to the latest amendments to Azerbaijan's Tax Code, the period of VAT exemption for the import and sale of hybrid vehicles with a release date of no more than 3 years and an engine capacity of no more than 2500 cubic centimeters has been extended for 3 years until January 1, 2026, MP of Azerbaijan's Milli Majlis (Parliament) Vugar Bayramov told Trend.
He noted that the amendments are aimed at stimulating the import of hybrid vehicles and increasing their sales.
"This step is aimed at changing the car park in accordance with the principle of green energy," he said.
Bayramov noted that despite the introduction of concessions, the import of more old hybrid cars into the country has led both to the obsolescence of the car park and to an increase in the number of accidents.
"However, the last amendment was quite important for the decrease in the cost of hybrid vehicles, the release year of which is relatively late, against the background of the global increase in prices," he added.
Recently, Advisor to the Minister of Ecology and Natural Resources of Azerbaijan Rasim Sattarzade said that only 85,000 vehicles in the country were released less than 5 years ago, while more than 80 percent of vehicles were released more than 10 years ago.
"This tendency keeps going from year to year. Therefore, the purchase of new cars is advisable. Even the exemption of hybrid and electric cars from customs duties, starting this year, will affect the growth of the use of environmentally friendly cars," he said.