Azerbaijan May Apply Excise Tax to Import of Several Kinds of Oil

Business Materials 29 September 2007 04:48 (UTC +04:00)

Azerbaijan, Baku /corr. Trend I.Khalilova / The State Customs Committee of Azerbaijan (SCC) suggested the Government to increase the list of the commodities involved in the excise tax from 2008. The SCC Chairman, Aydin Aliyev, said on 27 September that possibly beginning from 2008, excises will be applied regarding several kinds of the lubricating oil which are produced in Azerbaijan as well.

According to the SCC Chairman, these measures are aimed at protecting the internal production, which will also assist in implementing 200 forecasts. The 2008 forecasts for the SCC have been defined in amount of AZN 1.1bln.

This year, the excises will be applied with regards to the passenger cars, sport yachts and other sailing means imported into Azerbaijan.

The rates for the motor transport means with the motor volume of up to 2000 cu.sm have been defined in amount of AZN 0.15 for one cu.cm, up to 300 cu.sm - AZN 300 + AZN 1 for one cu.cm, up to 400 cu.sm - AZN 1300 + AZN 2 for one cu.cm, more than 400 cu.sm - AZN 3300 + AZN 4 one cu.cm.

According to Aliyev, irrespective of the taxation for the cars, their import into the Country has not decreased. "Under the current rates, the car import into the Country will exceed 60.000," he said.

The excise rates for cars was applied on 1 January 2007.