Social

Home page

Social

Vaccines, their syringes, and goods, which are necessary for modernization of oil refinery plant, to be imported duty-free

13 January 2021 14:46 (UTC +04:00)

Vaccines, their syringes, and goods, which are necessary for the modernization of the oil refinery plant, will be imported duty-free, Cabinet of Ministers told APA.

Modernization of the Heydar Aliyev Oil Refinery is underway to fully meet the growing demand of the country's economy for oil products, to produce higher quality oil products in line with European environmental standards. Within the framework of this project, a number of measures have been taken in the field of taxation and customs in order to optimize costs.

Thus, according to the relevant decision of the Cabinet of Ministers and the supporting documents of the Ministry of Energy until December 31, 2021, equipment and materials imported into the country within the reconstruction of large oil refineries are exempt from customs duties.

Taking into account the ongoing modernization of the plant and the need to increase the financial burden of the project, the Cabinet of Ministers has decided to increase the exemption from customs duties by an additional year.