Azerbaijan Provides VAT and Excise Duty Exemptions for Certain Precious Metals and Equipment and Machinery for Jewelry Production

With effect from 1 January 2021, Azerbaijan has introduced the following exemptions for a three-year period:

• An exemption from VAT on supplies of gold and silver, including bullion, coin, or granule;
• An exemption from VAT on the import of equipment and machinery for the manufacture/production of gold and silver jewelry products; and
• An exemption from VAT and excise duties on the production and import of platinum, gold, and their related products.

In addition to the exemptions above, Azerba…