New rules are being proposed in Azerbaijan concerning the fate of goods that are not formalized within a certain period after crossing the customs border.
According to the draft law "On Amendments to the Customs Code," discussed in the Economic Policy, Industry and Entrepreneurship Committee of the Milli Majlis, goods and vehicles that are not formalized or whose formalization is not completed within 6 months from the date of crossing the customs border will be transferred to state property.
According to current legislation, only goods confiscated by court order or those renounced by their owner in favor of the state are currently transferred to state property.
The new proposal, however, expands this list to include goods not formalized in time among the assets transferred to state property.
Undeclared Vehicles May Be Transferred to State Property After 6 Months
Aytac Dəniz · İqtisadiyyat ·