Baku:Azerbaijan is set to exempt the sale of tractors and the import of their spare parts from value-added tax (VAT) for a period of six years beginning January 1, 2027.

According to Azeri-Press news agency, this initiative is outlined in a proposed amendment to the Tax Code. The draft aims to localize the production of agricultural tractors and bolster domestic production by offering this VAT exemption.

Additionally, the proposed changes include an amendment to the Law "On Customs Tariff." This amendment suggests exempting the import of spare parts for agricultural tractors from customs duties for six years, starting January 1, 2027. This exemption would be contingent on a supporting document issued by the Ministry of Economy.