On 1 january in Azerbaijan will begin a tax amnesty, which affect more than 42.000 people. At the briefing the Head of the Tax Crimes Analysis of the Ministry of Taxes Zeynalabdin Mammadzade said that amnesty will be implemented as part of the bill, which is submitted to the plenary session of Parliament. After its adoption will be possible to write off taxes of 44.000 taxpayers, Mammadzade said. According to him, it will stimulate entrepreneurship, support entrepreneurs, and increase economic activity.
Referring to the amount of funds that the state is prepared to delete, Mammadzade called debts of
$624 million manats. With regard to the nature of the debt will be written off the accrued interest and part of the financial sanctions. In January 2017 while paying 30% of the sanctions, 70% will be deleted automatically.
On interest debts will be written off more than 386 million manats, including the debt of the public sector by 125 million manat. Total will be deleted tax penalties of 13,780 taxpayers amounting 234 million manat. The total tax debt in the country is more than 1.5 billion manat. -02D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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