Customs duty on AI-92 gasoline import has been cancelled in Azerbaijan for a period of 60 days, the country’s Cabinet of Ministers said.
Earlier, the customs duty was 15%, but zero interest rate is in effect since August 16.
Customs duty on the import of other kinds of gasoline is 15%.
Moreover, the excise rate on gasoline import (except for aviation gasoline) has been reduced from 200 to 1 Azerbaijani manat per ton for a period of 60 days.
These decisions have been made by Azerbaijan’s Cabinet of Ministers. Both decisions come into effect from the date of signing.
The decisions of the Cabinet of Ministers are related to the temporary suspension of oil production at the Heydar Aliyev Baku Oil Refinery due to routine preventive measures.
The cancellation of customs duty and reduction of excise tax on AI-92 gasoline will prevent the rise in prices of imported fuel in Azerbaijan. (Trend/Business World Magazine)