A new condition is being established regarding the exemption of passenger cars manufactured in the territory of the Republic of Azerbaijan from value-added tax (VAT), APA reports.
This is reflected in the amendment to the Tax Code approved by President Ilham Aliyev.
According to the Tax Code, the sale of passenger cars manufactured in the territory of the Republic of Azerbaijan is exempt from VAT for a period of 10 years starting from May 1, 2023.
According to the draft, the sale of passenger cars manufactured in the territory of the Republic of Azerbaijan will be exempt from VAT for a period of 7 years starting from January 1, 2027, provided that industrial assembly is carried out in full production form and technological operations are performed at the painting and welding stages.
In addition, the sale of trucks manufactured in the territory of the Republic of Azerbaijan, as well as the import of spare parts for trucks by legal entities for production purposes based on a certification document issued by the relevant executive authority, will be exempt from VAT for a period of 7 years starting from January 1, 2026.
