Milli Majlis approves tax and customs duty exemption for defense product imports

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.