By the decision of the Azerbaijani Cabinet of Ministers dated August 16, excise taxes and tariffs on gasoline were severely reduced. According to Turan was, quoting the official website of the Cabinet, reduction of excise and duty do not affect the jet kerosene. But the excise tax on each ton of motor gasoline decreased from AZN 200 up to AZN 1. At the same time, customs tariffs on gasoline with an octane rating of 92, reduced from 15% to 0%.
Both solutions will work only 60 days, and have been adopted on the basis of proposals of SOCAR, Ministry of Finances, Economic Development, Taxes, and the State Customs Committee.
According to some experts, the decision of the Cabinet may be associated with the modernization of the oil refinery named after Heydar Aliyev, which will be temporarily stopped. During this period will be needed import of gasoline. To prevent the growth of prices, tariffs are canceled excise reduces.–71D-
Economics
-
In the bustling corridors of Iran's Ministry of Energy, Shahin Mustafayev, Azerbaijan's Deputy Prime Minister and Co-Chair of the Azerbaijan-Iran Intergovernmental Commission on Economic, Trade, and Humanitarian Cooperation, convened with Abbas Aliabadi, Iran's Minister of Energy. Their agenda: to explore the vast potential of trilateral energy cooperation between Azerbaijan, Iran, and Russia. Discussions centered on integrating energy systems, expanding electricity exchange, and establishing robust infrastructure for regional electricity transit.
-
In the snowy alpine setting of Davos, Azerbaijani President Ilham Aliyev met with the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, to discuss a shared vision for sustainability and regional cooperation. The meeting, held on January 22, came at Renaud-Basso’s request and underscored the growing partnership between Azerbaijan and the EBRD, with a focus on green energy, infrastructure projects, and economic development.
-
Azerbaijan's Acting Minister of Finance, Azer Bayramov, met with members of the International Monetary Fund (IMF) mission on January 22 to discuss preparations for Article IV consultations between the IMF and the government of Azerbaijan, the Ministry of Finance reported on Monday.
-
Azerbaijan’s Parliamentary Committee on Economic Policy, Industry, and Entrepreneurship held its first meeting of the 2025 spring session on Monday, discussing ten agenda items including legislative reviews and the committee’s action plan.
Leave a review