Azerbaijan extends term of VAT exemption for grain imports

Date

2/23/2021 8:14:11 AM

(MENAFN- AzerNews) By Trend

The Parliament of Azerbaijan discussed amendments to the Tax Code during a meeting on Feb. 23, Trend reports.

Chairman of the Parliament's committee on economic policy, industry, and entrepreneurship, Tair Mirkishili, noted that many proposals on amendments to the Code put forward earlier by the MPs were taken into account.

The proposals put forward are as follows: the extension of the period for exemption from VAT on the import and sale of grain, as well as the production and sale of wheat flour and bread from 5 to 7 years (from January 1, 2017), the period for exemption from VAT on the production and sale of bran - from 3 up to 5 years (from March 1, 2019).

Besides, it is proposed to introduce an excise tax on shisha tobacco and to establish an excise tax on liquid for electronic cigarettes at the level of 100 manat ($58.8) per liter (in the first reading it was 220 manat ($129.4) per liter).

After discussions, the proposals were put to a vote and adopted in the third reading.

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