Baku: A special customs procedure for duty-free trade and its scope are being defined, APA reports. This development is reflected in the newly proposed Chapter 33-1 of the Customs Code, which was presented for discussion at today's session of the Milli Majlis.

According to Azeri-Press News agency, the draft outlines that duty-free trade will involve the retail sale of foreign goods imported into the customs territory without collecting import duties and taxes. This procedure is aimed at individuals leaving the customs territory for personal use in duty-free shops. The sale of domestic goods within this regime requires permission from customs authorities, and the rules for this special customs procedure are determined by the relevant executive authority.

Duty-free shops are designated as customs control zones, with all activities including the placement and sale of goods under the duty-free trade procedure carried out under the supervision of customs authorities. The process for issuing, re-registering, suspending, restoring, and revoking permits for duty-free shops is regulated by the Law 'On Licenses and Permits.' Additionally, a register of duty-free shops is maintained by the relevant executive authority, ensuring that the list is published and continuously updated on an official online platform.

Customs control over goods within the duty-free trade regime concludes when goods are re-exported, placed under another customs procedure, destroyed, or relinquished to the state. In the event of a duty-free shop's liquidation, foreign goods must either be re-exported, placed under the customs procedure of release for free circulation with applicable payments, or, if not possible, stored temporarily or placed in a customs warehouse.

Following comprehensive discussions, the draft law was voted on and successfully adopted in its third reading.