Baku: The import of vintage motor vehicles will soon be exempt from VAT, excise tax, and customs duties, as discussed in the Azerbaijani Parliament today. This decision is part of proposed amendments to the Tax Code and the Law 'On Customs Tariffs.'

According to Azeri-Press news agency, the amendments were deliberated during a session of the Milli Majlis. The current regulations classify motor vehicles as vintage if their engine, body, and chassis are in original or restored condition and are over 40 years old from the factory production date.

The proposed amendment outlines that the import exemption will be applicable under certain conditions. These conditions include obtaining a confirming document from the relevant state authority and limiting the number of imported vintage vehicles to one unit per calendar year per individual, with a nationwide cap of ten units.

The financial relief on the import of these vehicles is aimed at reducing the expenses of importers. Following the discussions, the draft law was put to a vote and successfully adopted in the third reading.