Customs duties on exports of ferrous and non-ferrous metals to be increased

17:09 - 24.06.2024


June 24, Fineko/abc.az. Customs duties applied to the export of scrap and waste of ferrous and non-ferrous metals (base metals) (including metal products that are completely unsuitable for use for designated purposes as a result of breakage, cut, destruction or other reasons) will be increased.

ABC.AZ reports that this was reflected in the presidential decree "On additional measures in the field of regulating the export of scrap and waste of ferrous & non-ferrous metals and the repeal of presidential decree from April 17, 2001 #457 "On the temporary suspension of exports of scrap and waste of ferrous & non-ferrous metals".

According to the decree, the Cabinet Ministers must ensure, within a three-month period, an increase and (or) establishment of customs duties applied to the export of scrap and waste of ferrous and non-ferrous metals (priceless metals) (including metal products completely unsuitable for use for designated purposes as a result of breakage, cutting, destruction or other reasons), and to inform the country’s president.

At that, the Cabinet must ensure, within a four-month period, establishment of export customs duties and (or) optimization of existing export customs duties on products obtained as a result of processing scrap metal and waste, in order to prevent evasion from paying the stipulated export customs duties and inform the Azerbaijani president.