Azerbaijan to increase import duties to keep domestic production

Baku. 25 October. REPORT.AZ/ "Today, we consider lowering grades in customs rates".

Report informs, Chairman of the State Customs Committee (SCC) Aydin Aliyev told reporters.

According to him, current five-grade system will be eliminated: "Of course, final decision will be given by the Government. Also, reduction of import duties for raw materials required for local production will be considered. Growing of import rates for the products, manufactured in the country to 10-15 is normal. In this way, we try to keep the domestic production".

SCC Chairman also touched upon the information that excise rates could lead to price increases in Azerbaijan: "The question is not about significant increase in the excise rate".

Also, A. Aliyev noted that customs revenues in the state budget draft of Azerbaijan for 2018 is considered at 2.430 billion AZN, which is more by 180 mln AZN or 8% than the current year's analogical budget forecast.

He announced the amount of current revenues through SCC: "According to the information to this morning, the committee collected 2.130 billion AZN and transferred to the budget. We are optimistic about the coming year".