Azerbaijan explains decision against customs tariff increases

Business Materials 7 November 2013 17:54 (UTC +04:00)

Baku, Azerbaijan, Nov. 7

By Abbas Akhundov - Trend: Azerbaijan does not intend to raise tariffs in 2014, chairman of the State Customs Committee Aydin Aliyev told journalists on Thursday.

He was responding to a question about the sources of increasing income to the state budget contributed by the customs service.

According to him, the expected increase in imports into the country, as well as an increase in legalized trade in border areas and the customs declaration contribute to the growth of funds.

According to Aliyev, the State Customs Committee transferred 1.134 billion manat to the state budget over 10 months with an annual forecast of 1.38 billion manat. The forecast on revenues for next year is set at 1.51 billion manat.

Currently, customs tariffs in Azerbaijan are regulated by a law adopted in 1995. The customs tariff is a set of customs duty rates on goods transported through Azerbaijani customs border and systematized according to the commodity nomenclature of foreign economic activity.

Azerbaijan's current customs regime was adopted in 2001. The rates are 0, 0.5, 1, 3, 5, 10 and 15 per cent in Azerbaijan.
The official exchange rate is 0.7843 AZN/USD on Nov. 7.