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Azerbaijan Rethinks Excise Tax Rates

by Tatiana Smolenska, Tax- News.com, Moscow

02 January 2015


Azerbaijan's Parliament has approved Tax Code amendments to introduce excise tax on precious metals, and set new tax rates for imported cars, imported yachts, and domestically produced alcohol and tobacco.

According to the legislation, excise on imported diamonds will be set at AZN200 (USD255) per carat (or proportion thereof), at AZN2 per gram of platinum, and AZN0.8 per gram of gold. Rates for gold products will be assessed according to their hallmark. Small amounts brought into the country by individuals will be exempt, as will assets of the Central Bank and the State Oil Fund.

Meanwhile, excise rates for imported cars and yachts will be based on engine size, with the levy beginning at AZN0.2 per cubic centimeter for engines up to 3,000 cubic centimeters.

The excise rate on domestically produced cigarettes will be AZN4 per thousand, rising to AZN10 for cheroots, cigars, and cigarillos. Excise on beer will be set at AZN0.2 per liter, on vodka and fortified drinks at AZN2 per liter, on champagne at AZN2.5 per liter, and on brandy and cognac at AZN6.

TAGS: tax | excise duty | legislation | tax rates | Azerbaijan | legislation amendments

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