The import of works of art, collector's items, and antiques into Azerbaijan has been exempted from Value Added Tax (VAT) based on a list to be confirmed by relevant supporting documents.
Operative Information Center-OMM reports that President Ilham Aliyev has approved the law on amendments to the Tax Code, the Law "On Banks," and the Law "On Customs Tariffs," which were adopted by the Milli Majlis (National Assembly) on February 13.
The VAT exemption is designed to optimize costs for importers of these items. Consequently, this move is expected to boost imports and contribute to the enrichment of cultural facilities and museums with new exhibits. At the same time, this decision will serve to strengthen international cultural integration and support collectors of currency, antiques, and works of art. Similar practices of tax exemptions for the import of such items exist in the experience of several developed countries.
This legislative update aligns with Azerbaijan's broader strategy to preserve national heritage and promote the country as a regional cultural hub. By reducing the financial burden on the acquisition of historical and artistic artifacts, the government aims to encourage the return of cultural property to the country and facilitate the growth of private and state-owned galleries. Such fiscal incentives are frequently utilized globally to stimulate the art market and ensure that significant historical pieces are accessible to the public and researchers within the Republic of Azerbaijan.
