Azerbaijan may increase excise tax on import of luxury cars

Baku. 14 December. REPORT.AZ/ A proposal made in Azerbaijan to increase excise tax on import of luxury cars.

Report informs, Chief of the Main Department for Finance - Tariffs and Currency Control of the State Customs Committee, Mirgasim Vahabov said addressing today's committee meeting: "However, import of vehicles into the country fell by 82%".

"Imposition of tax to vehicles is one of the important issues. Compared to 11 months of 2015, import of vehicles into the country fell by 82%. Thus, however, 25 000 vehicles were imported in 11 months 2015, this figure was more by 4 800 this year. Also, tax less by 94.5 mln AZN was collected," Department Chief said.

Stating existence of about 2 mln vehicles in Azerbaijan, M.Vahabov stressed importance of increase of excise tax on luxury cars: "In 11 month last year, 160 vehicles with engine capacity higher than 5000 m3 were imported, 10 of which imported under preferential terms, namely for diplomatic services. In 11 months of 2016, 198 luxury cars were imported (1 vehicle under preferential terms). This means it is possible. Also, it is necessary to involve fur and leather goods in excise tax. Some countries involve carpet products in excise tax. There are a large number of fur and leather products in the consumer market. Therefore, imposition of excise tax is necessary".