Milli Majlis Approves Tax And Customs Duty Exemption For Defense Product Imports
Date
6/29/2024 10:51:19 PM
(MENAFN- AzerNews)
Ulviyya Shahin
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The import of defence products is exempt from tax and customs
duty, Azernews reports.
In this context, amendments to the Tax Code and the "On Customs
Tariff" law were discussed in the third reading during today's
session of the Milli Majlis.
According to the amendment to the "On Customs Tariff" law,
individuals engaged in the design, production, sale, repair, and
maintenance of defence products (including combat military
equipment, military weapons, ammunition, explosives, and devices,
and their components) will be exempt from customs duties when
importing technologies, equipment, components, materials, and raw
materials. This exemption is granted based on confirmation
documents issued by the relevant executive authority.
Additionally, under the proposed amendment to the Tax Code,
individuals engaged in the design, production, sale, repair, and
maintenance of defense products will be exempt from taxes on the
importation of technologies, equipment, components, materials, and
raw materials. The sale, repair, and maintenance of defense
products produced by these individuals will also be exempt from
taxes, provided that confirmation documents from the relevant
executive authority are presented.
Following discussions, the amendment proposals were voted on and
adopted in the third reading.
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