Baku: Azerbaijan has announced the extension of its customs duty exemption on TC-1 jet fuel imports for an additional year. This decision was made by the Cabinet of Ministers, as reported by APA.

According to Azeri-Press News Agency, the exemption, initially set to expire on December 31, 2024, will now be extended to December 31, 2025. The revised decision is scheduled to come into effect on April 3 and will remain valid until the end of 2025.

Additionally, the excise tax rate for TC-1 jet fuel imports has been set at 1 AZN per ton until December 31, 2025. The Cabinet of Ministers explained that this move involves amendments to previous resolutions, including the exemption of customs duties on various imported jet fuels and the adjustment of the excise tax to 1 manat per ton, down from the current rate of 80 manat per ton.