OREANDA-NEWS. Azerbaijan continues to update the customs legislation.

Today, the Azerbaijani parliament has passed in the first reading a new draft law on customs tariffs to replace a similar law adopted in 1995.

Updating of this law is linked with a new Customs Code operating in the country.

The new law establishes a new procedure for the formation of the customs tariff and customs duties. It also introduces six ways to calculate the customs value of goods and determines the cases of granting tariff preferences and privileges, exemptions from customs duties.