Tax-free import approved for vintage vehicles in Azerbaijan

Azerbaijan has approved tax exemptions for the import of vintage vehicles, removing VAT, excise tax and customs duties under newly adopted legislative amendments.

The decision was included in proposed changes to the Tax Code and the Law “On Customs Tariffs,” which were discussed and adopted in the third reading during a session of the Milli Majlis, News.Az reports, citing local media.

Under current rules, vintage vehicles are defined as motor vehicles that are at least 40 years old and whose engine, body and chassis remain in original condition or have been restored to original specifications.

According to the amendments, the tax exemptions will apply under specific conditions. Importers must provide confirmation documents from relevant state authorities. In addition, individuals will be allowed to import no more than one vintage vehicle per calendar year, while the nationwide total will be limited to 10 vehicles.

Officials say the move is expected to reduce costs for collectors and importers while regulating the import of rare vehicles.

News.Az 

By Aysel Mammadzada