Azerbaijan exempts import of movie production equipment from customs charges for 3 years

Baku. 1 November. REPORT.AZ/ Import of movie industry equipment will exempt from taxes during next 3 years.

Report informs, the legislative draft was discussed in today’s meeting of Culture Committee of Milli Majlis (Azerbaijani Parliament).

According to Article 20.0.20 added to Law on Customs Charges, national movie makers will be exempt from customs charges for import of movie equipment and structures based on approval document provided by appropriate executive authority during 3 years starting from January 1, 2017.

Moreover, according Article 106.1.18 added to Tax Code, national movie makers will be exempt from taxes for import of movie equipment and structures based on approval document provided by appropriate executive authority during 3 years starting from January 1, 2017.

According to amendment 164.1.36 to the Tax Code above mentioned operation are exempt from any taxes during mentioned period.

According Article 106.1.18 added to Tax Code, 50 % of incomes of national movie makers will not be subject to taxation based on approval document provided by appropriate executive authority during 3 years starting from January 1, 2017.

The draft was recommended to plenary session of Milli Majlis.