The President of Azerbaijan has ordered on the approval of amendments to the Tax Code of the Azerbaijan Republic.
Judging by the text of the document, half of the financial penalties levied to the state budget in taxes will be contributed to the non-budget fund for the social protection of fiscal workers, as well as to strengthen the logistics of the tax bodies and increase the scientific and technical capacity in this area.
The funds will be controlled by the Ministry of Taxes itself, together with the Ministry of Finance, as the Deputy Minister of Taxes Sahib Alakbarov previously reported to journalists. --17D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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