Azerbaijan extends tax exemptions for jet fuel imports

Azerbaijan's Cabinet of Ministers has amended its decision on the commodity nomenclature of foreign economic activity and import and export customs duty rates.

According to Report, Prime Minister Ali Asadov signed a new decision extending exemptions for jet fuel imports. Under the decision, TC-1 grade fuel and other types of fuel imported for jet engines will remain exempt from the 15% customs duty until the end of next year, for an additional one-year period.

The Cabinet of Ministers has also amended the decision dated January 19, 2001, which approved excise tax rates on excisable goods imported into Azerbaijan.

In line with the decision signed by the prime minister, the reduced excise tax rate for TC-1 grade fuel and other fuel types imported for jet engines has been extended until the end of next year. The excise tax per ton will continue to stand at 1 manat instead of the previous 80 manats ($47) during this period.