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Home»NEWS»Azerbaijani MP talks about costs for imported items
NEWS

Azerbaijani MP talks about costs for imported items

Mirza ShehnazBy Mirza ShehnazJanuary 6, 2023No Comments2 Mins Read
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BAKU, Azerbaijan, January 6.
Consideration inside at some point of an software (declaration)
acquired by the customs authority relating to the passage of products
imported to Azerbaijan might result in a lower in costs for
imported merchandise, MP of Azerbaijan’s Milli Majlis (Parliament)
Vugar Bayramov advised Trend.

He famous that one of many principal objectives of amendments made
to the Customs Code is to find out the customs worth of the
imported merchandise in a shorter time period.

“Previously, the method of figuring out the customs
worth of products used to take a number of days. According to the
modification made to the Customs Code, the customs worth of products
needs to be decided inside 24 hours. As a outcome, entrepreneurs
engaged in imports would have fewer expenditures,” Bayramov
mentioned.

He additionally added that, in accordance with the opposite modification,
customs declarations and notifications might be submitted not solely in
paper but additionally in digital kind, which may even have an effect on the
expenditure discount of entrepreneurs.

The Azerbaijani MP famous that regardless of the lower in
expenditures that will result in a lower in costs for these
merchandise, it’s laborious to forecast how precisely it should have an effect on the
costs in the marketplace. “Unfortunately, in some instances, though the
bills of entrepreneurs are lowered, it doesn’t have an effect on the worth
discount,” he added.

Previously, on the plenary session on December 27,
Azerbaijan’s Milli Majlis (Parliament) adopted amendments to the
Customs Code within the third studying. According to the modification, the
attraction (declaration) acquired by the customs authority relating to
the passage of products can be thought-about inside at some point. In instances of
price changes for the passage of commodities, the authority is
obliged to inform the customs applicant inside 24 hours from the
second the attraction was submitted to the physique.

The doc is meant to enhance customs clearance
procedures, particularly relating to the necessity for customs valuation,
strengthen the customs authorities’ obligations, and end in
sooner motion of products.

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Mirza Shehnaz

Shehnaz Ali Siddiqui is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing around Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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