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NO REPEAL OF CUSTOMS BENEFITS FOR OIL COMPANIES

Business Materials 30 June 2005 18:36 (UTC +04:00)

A senior customs official called “unconceivable” an idea of cancellation of customs privileges for oil companies and their contractors.

“At present such a move is impossible. All benefits are left in force, and all goods, falling under production-sharing agreements, are exempted from customs duties,” Arif Hamzayev, the head of the corresponding department of the State Customs Committee, told Trend.

Meanwhile, he hinted at possible repeal of customs benefits in future. “However, any decision, regarding this, will depend directly on the corresponding policy of the State towards the determination of economic priorities. Only the issues, which will be in line with the above principles, can be a subject of future discussions,” Hamzayev concluded.

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