Baku: Azerbaijan has announced an extension to the exemption period for import customs duties and excise taxes on TC-1 grade fuel used in jet engines. This decision, aimed at supporting the aviation sector, extends the duty-free period initially set to expire on December 31, 2025, to December 31, 2026.

According to Azeri-Press News Agency, the Cabinet of Ministers of Azerbaijan amended the 'Commodity Nomenclature of Foreign Economic Activity of the Republic of Azerbaijan, rates of import customs duties, and rates of export customs duties' to facilitate this extension. The exemption from the 15 percent import customs duty on TC-1 fuel is expected to provide financial relief to the aviation industry.

In addition to the customs duty exemption, the Cabinet of Ministers also amended the "Excise rates for excisable goods imported into the territory of the Republic of Azerbaijan." The preferential excise rate for TC-1 jet fuel will remain at 1 manat per ton, significantly lower than the standard rate of 80 manat per ton. This decision mirrors the customs duty exemption period, extending the preferential rate until the end of 2026.