Prices for hybrid cars in Azerbaijan to decrease next year


November 22, Fineko/ One of the changes to be made to the Tax Code from next year is the exemption from VAT on the import and sale of hybrid cars with release date of no more than 3 years and engine capacity of no more than 2,500 cm3 over the next 3 years. 
According to the changes, the import and sale of cars powered only by an electric motor will also be exempt from VAT. At that, the import of second- and third-level electric fillers for cars with an electric motor is also exempt from the tax under consideration for 3 years, MP Vugar Bayramov told ABC.AZ.
He noted that it is expected that after these changes there will be a decrease in prices for hybrid cars of the new release.
"Thus, the exemption from VAT will reduce their cost by an average of 18%. Given that more Japanese-made hybrid cars are currently being used, the reduction in prices for these cars is not expected. Speech is about cars produced in the last 3 years. On the other hand, the adoption of the latest changes will also lead to an increase in demand for hybrid cars. Tax exemption for cars with electric motors is a positive fact and may increase interest in these cars in our country," Bayramov believes.