BAKU, Azerbaijan, March 25. Starting today, bringing classic vehicles into Azerbaijan will sail smoothly, free from the burdens of value-added tax (VAT), excise, and customs duties, TurkicWorld reports.
The amendments to the Tax Code, adopted on February 13, came into effect on March 25.
Under the current rules, vehicles whose engines, bodies, and chassis are in original condition or restored to their original state and which are over forty years old from the date of manufacture are classified as rare vehicles.
The law stipulates that the tax exemptions for rare vehicles will apply under the following conditions:
- The import must be carried out based on a confirmation document issued by the relevant state authority.
- An individual may import no more than one rare vehicle per year, with a total national limit of ten vehicles.
The anticipated exemptions are poised to lower expenses for importers and stimulate the influx of unique vehicles into the Azerbaijani market.
