All entrepreneurs (legal entities), which are subject to VAT shall become subject to statutory audit.
According to the Chief of Staff of the Chamber of Auditors of Azerbaijan Gasham Bayramov, Azerbaijan legislation must pass an annual statutory audit of about 45,000 businesses. In fact, is audited 10% of that due to the absence of a mechanism of punishment and weak administrative measures against defaulters.
An estimated chamber, the use of administrative measures will in the next 2-3 years to ensure the passage of the statutory audit of the major companies and the VAT payers (about 17,000 or 18,000 businesses).
Under the legislation, the annual statutory audit in Azerbaijan have held joint stock companies, banks and insurance companies, branches and representative offices of foreign companies, enterprises with limited liability, management and organization, joint ventures and municipalities. - 17D-
Economics
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Azerbaijani President Ilham Aliyev signed a decree on Monday aimed at improving social welfare, increasing the country’s minimum monthly wage to 400 manats ($235) starting January 1, 2025.
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Turkish companies YDA and ASFAT plan to build a shipyard near Kazakhstan's port of Kuryk to address the country's domestic fleet shortage, Kazakhstan's Minister of Transport Marat Karabaev announced on Monday during a parliamentary session. The project underscores Kazakhstan's ambitions to strengthen its maritime capabilities and logistics infrastructure.
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The ASCO-owned ferry "Shahdag," freshly refurbished, has resumed operations on the Azerbaijan-Kazakhstan route, aiming to alleviate severe truck congestion at ports on both sides of the Caspian Sea.
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