Baku: The import of vintage motor vehicles into Azerbaijan will soon be exempt from VAT, excise tax, and customs duties, APA reports. This legislative change was reflected in proposed amendments to the Tax Code and the Law 'On Customs Tariffs,' discussed at the Milli Majlis, Azerbaijan's Parliament, during its recent session.

According to Azeri-Press News Agency, these amendments define vintage motor vehicles as those whose engine, body, and chassis are in their original or restored original condition, and which have been manufactured over 40 years ago. The exemption will be regulated by specific conditions, including the requirement for a confirming document from the relevant state authority and a limitation on the number of vintage vehicles imported per individual and nationwide.

The new regulation allows individuals to import one vintage vehicle per calendar year, with a nationwide cap of 10 units. The exemption aims to reduce importers' expenses significantly. Following discussions, the draft law was put to a vote and successfully adopted in its first reading.