Azerbaijan exempts swap supplies of oil and gas from VAT

January 01, 2024 | 20:29 |8704

Azerbaijan's imports of crude oil and natural gas under a swap agreement are exempt from VAT for 3 years, Report informed on Monday, citing amendments to the country's Tax Code.

Currently, Azerbaijan imports gas from Turkmenistan and Iran under swap agreements.

The VAT rate in Azerbaijan is 18%, the publication notes.

The day before, on December 31, Azerbaijani Energy Minister Parviz Shahbazov announced the volume of gas exports via the TAP on social networks. According to him, over three years, more than 31 billion cubic meters of gas were supplied to Europe via the Trans-Adriatic Pipeline. “This year, 11.8 billion cubic meters of gas were exported to Europe under short-term and long-term agreements,” the minister wrote.

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