Azerbaijan Economy Ministry Announces New VAT Exemption for Local Bus Manufacturers

The Azerbaijani Ministry of Economy Dec. 20 announced a new VAT exemption to revitalize the local automotive industry, attract additional investment, and provide tax breaks to local bus manufacturers. The announcement discusses a new exemption applicable to the sale of domestically manufactured buses and the import of spare parts for bus production, effective for 8 years beginning Jan. 1, 2025. Current law provides a VAT exemption for passenger cars made in Azerbaijan, valid for 10 years from May 1, 2023. [Azerbaijan, Ministry of Economy, 12/20/24]

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