Customs duties abolished on jet fuel import

By Azernews

By Amina Nazarli

The government of Azerbaijan abolished customs duties for the import of fuel for jet engines.

Under the decision of the Cabinet of Ministers, the import of fuel for jet engines is subject to zero customs duty. The previous figure was 15 percent, Trend reported.

Under another decision of the Cabinet, the excise rate for the import of kerosene for jet engines was reduced from 80 manat ($47) to 1 manat ($0.58) per ton.

These decisions come into force from the date of publication and are valid for 90 days.

In July 2017, the import of RON 92 gasoline was exempted from customs duties upon the relevant decision of the Cabinet of Ministers.

Previously, the customs duty rate for this type of gasoline was 15 percent.

Aviation gasoline was an exception.

Also, the excise duty rate for the import of RON 92 gasoline has been reduced from 200 Azerbaijani manats per ton to one manat.

Azerbaijan’s state oil company SOCAR informed that these decisions of the Cabinet of Ministers are related to the temporary suspension of production of oil products at the Baku Oil Refinery named after Heydar Aliyev in line with the planned preventive measures, as a result of which certain volumes will be imported from abroad.

In July Tariff (price) Council of Azerbaijan increased the retail price for gasoline brand AI-92 by 0.20 manat and starting from July 15, gasoline of the brand costs 0.90 manat.