Azerbaijan Extends Tax Exemption Period On Jewelry Imports
Date
11/26/2024 8:07:23 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 26. The period of
tax exemption on imported platinum, gold, jewelry, and other
related items, including processed, sorted, framed, and set
diamonds, has been extended until 2027, said Avaz Guliyev, Deputy
Head of the Main Department of Tax Policy at the State Tax Service
under the Ministry of Economy of Azerbaijan, Trend reports.
Speaking at the event "Cooperation with Business Associations
and Entrepreneurs and its Results," Guliyev also highlighted the
value-added tax (VAT) benefits associated with jewelry
products.
"To support the production and processing of jewelry, the VAT
exemption period for the import of machinery, equipment, and tools
has been extended until 2027. As significant support for the
industry, since 2021, the sale of gold and silver in bars, coins,
or granules has been exempt from VAT," he added.
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