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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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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