The Parliament of Azerbaijan has approved amendments of tax code introducing excise tax on precious metals, and setting new tax rates for imported cars, imported yachts, and domestically produced alcohol and tobacco. As per legislation, excise on imported diamonds has been set at AZN200 (USD255) per carat or proportion thereof, at AZN2 per gram of platinum, and AZN0.8 per gram of gold. Rates for gold products will be assessed according to their hallmark.
Excise rates for imported cars and yachts will be based on engine size. The levy will begin at AZN0.2 per cubic centimeter for engines up to 3,000 cubic centimeters. The excise rate on domestically produced cigarettes will be AZN4 per thousand, rising to AZN10 for cheroots, cigars, and cigarillos. Excise on beer will be set at AZN0.2 per liter, on vodka and fortified drinks at AZN2 per liter, on champagne at AZN2.5 per liter, and on brandy and cognac at AZN6.
