By  Trend

Azerbaijan’s President Ilham Aliyev has signed a decree on application of the “Law on Amending Tax Code of Azerbaijan” adopted by the country’s parliament September 30.

The amendments stipulate removing the value added tax (VAT) for the goods transshipment services directly related to transit cargo transportation.

The VAT rate in Azerbaijan is 18 percent.

Currently, cargo transit through Azerbaijan is carried out via the East-West (the Trans-Caspian International Transport Route) and the International North-South Transport Corridor.

Some 33.24 million tons of cargos were transported through the territory of Azerbaijan in January-August 2016. Out of this figure, 14.6 percent (4.86 million tons) accounted for the transit transportation.