Motor Transport Means Importation into Azerbaijan likely to Increase in 2008

Business Materials 24 September 2008 12:57 (UTC +04:00)

Azerbaijan, Baku, 23 September /corr. of Trend A.Badalova/ Application of the excise tax to the motor transport means, imported in the territory of Azerbaijan, did not lead to decrease of the import volume.

Aydin Aliyev, the chairman of the State Customs Committee (SCC), said that during eight months import of motor cars into the republic exceeded 50,000. Thus, the total number of the motor transport means, brought with a commercial purpose on the base of the customs declaration, made up 30,000, or 50% more than the same period of last year.

їSuch tendency enables to expect that this year import of only automobiles into the country will exceed 80,000,ї the head of SCC said.

[Annual import of transport means makes 70,000.]

Before 2007 only road tax was imposed import of transport means into Azerbaijan.

Taking into account such dynamics, the forecasts on excise tax, applied on the imported goods, are increasing annually. In 2008 the public budget revenues are projected at AZN 72.4mln.

According to the Tax Code, since 1 January 2007 the rate of the excise tax to import of motor transport means with an engine volume up to 2,000 cubic centimeters is introduced at the level of AZN 0.15 per 1 cu cm, up to 3,000 cu cm ї AZN 300 + 1 AZN for each cu cm of more than 2,000 cu cm, up to 4,000 cu cm ї AZN 1,300 + AZN 2 per each cubic cm of more than 3,000 cu cm, more than 4,000 cu cm ї AZN 3,300 + AZN 4 per each cu cm of more than 4,000 cu cm.

On 23 September the official rate of AZN was 0.8076 per USD.

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