BAKU, Azerbaijan, November 26. The period of tax exemption on imported platinum, gold, jewelry, and other related items, including processed, sorted, framed, and set diamonds, has been extended until 2027, said Avaz Guliyev, Deputy Head of the Main Department of Tax Policy at the State Tax Service under the Ministry of Economy of Azerbaijan, Trend reports.
Speaking at the event "Cooperation with Business Associations and Entrepreneurs and its Results," Guliyev also highlighted the value-added tax (VAT) benefits associated with jewelry products.
"To support the production and processing of jewelry, the VAT exemption period for the import of machinery, equipment, and tools has been extended until 2027. As significant support for the industry, since 2021, the sale of gold and silver in bars, coins, or granules has been exempt from VAT," he added.
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