Introducing new system of customs duties in Azerbaijan to create acceptable conditions for entrepreneurs

Azerbaijan, Baku, Oct.8 / Trend I. Khalilova /

The Azerbaijani State Customs Committee (SCC) has submitted to the government the final proposals for transition from the multilevel at three-level differentiated tariff system, chief of the SCC's Head Department for Financial Tariff and Currency Regulation Mirgasim Vahabov said.

"Their approval depends on the country's Government. By transition to a new system of tariffs 0.5 and 15 percent-rate will be introduced in the country," Vahabov said.

He said this tariff schedule is considered sufficient for Azerbaijan.

Today, a system of customs tariffs, adopted in 2001 continues to operate in Azerbaijan. At present, rates of 0, 0.5, 1, 3, 5, 10 and 15 operate in the country. Previously, even offered to keep four rates 0, 5, 10 and 15 percent, but later a 10 percent rate was excluded from the proposed package.

"Introducing a three-level system of customs rates helps to create acceptable conditions for entrepreneurs, and studies have shown that share of goods on which tariff rates 0.5, 1, 3, and 10 percent are imposed today, is very low in total imports, Vahabov said. "Preservation of these rates is not reasonable," he added.

According to him, for further development of the country's economy customs duties for equipment, currently taxed at a rate of one and three percent will be reduced to zero, and for finished products will be increased to 15 percent.

Within Azerbaijan's accession to the World Trade Organization (WTO), the customs authorities entrusted with two tasks - revision of customs duties and taxes and introduction of new models, as well as protection of intellectual property rights.