Azerbaijan, Baku, May 4 / Trend , I. Khalilova/
Azerbaijan has canceled value added tax (VAT) on import of energy generating equipment into the country in a bid to increase electricity generation and to supply population with energy on a permanent basis, a source in the government said.
Under the Cabinet of Ministers decree, goods and equipment of groups 84 and 85 with capacity of 750 megawatt and worth 500 million manat which are used in the construction of combined-cycle plants have been exempted from VAT.
The decision was adopted based on coordinated proposals by the Ministry of Taxes, Ministry of Industry and Energy, Ministry of Finance, Ministry of Economic Development and State Customs Committee.
The decision took effect on April 30.
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