The period of VAT exemption for hybrid cars is extended

Within the framework of the draft amendments to the Tax Code, among social changes, it is planned to increase the period of concessions given to hybrid cars.

Qazet.az reports that this was said by the Deputy Head of the Tax Policy Department of the State Tax Service under the Ministry of Economy, Avaz Guliyev.

He said that from January 1, 2022, the import and sale of hybrid cars with an engine capacity of up to 2,500 cubic centimeters and a production period of no more than 3 years will be exempted from VAT for 3 years. This concession was supposed to expire on January 1, 2025. In accordance with the economic policy carried out in the country, at the same time taking into account the principle of "green growth country", the term of that concession is expected to be extended for another year.