Hybrid cars to be exempt from VAT for 3 years


November 23, Fineko/abc.az. One of the next proposed changes to the Tax Code is the establishment of tax incentives for the import and sale of eco-friendly transport vehicles.
ABC.AZ reports that in order to increase the share of eco-friendly vehicles in the automotive sector of the country, a number of amendments to the Tax Code have been proposed.
Thus, it provides for VAT exemption from 1 January 2022 for 3 years for both the import and sale of cars with an electric motor, as well as the import of electric fillers for these cars. It is also proposed to exempt from VAT the import of hybrid cars with production period of 3 years and engine capacity of no more than 2,500 cm3 for 3 years from 1 January 2022.