- Azerbaijan has extended tax breaks for jewelry production machines.
- Import of machines, equipment, and devices used in jewelry production is exempt from value added tax (VAT) for another 3 years.
- The Tax Code has been amended to implement this exemption.
- The exemption will continue until January 1, 2027, based on confirmation documents from relevant institutions.
- This concession is applicable for a period of 3 years starting from January 1, 2021.
- The VAT rate in Azerbaijan is 18%.
Source: azernews.az
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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