Baku: An excise rate will be applied to quadricycles imported into the Republic of Azerbaijan, APA reports. This decision is part of a proposed amendment to the Tax Code discussed today at the Milli Majlis’s Committee on Economic Policy, Industry, and Entrepreneurship meeting.

According to Azeri-Press News Agency, the draft amendment specifies that quadricycles subject to state registration will be classified as excisable goods. An excise rate of 0.5 AZN per cubic centimeter of engine volume will be applied to these vehicles.

The introduction of this excise duty is expected to impact the importation and pricing of quadricycles in Azerbaijan. The amendment aims to regulate the import market and align with the country’s economic policies. The classification of quadricycles as excisable goods marks a significant change in the tax structure for imported vehicles.