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
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Azerbaijan is witnessing a sharp contraction in its foreign trade turnover, with data for the first half of 2024 showing a significant 38% year-on-year decline. According to the State Statistics Committee, the nation's trade turnover from January to June 2024 amounted to $21.77 billion, a steep fall from $30.3 billion recorded during the same period in 2023.
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Elnur Aliyev, Advisor to the Minister of Science and Education, stated to journalists that a per capita financing system will be introduced in schools by the end of 2026: "This is currently a pilot project. It will be implemented in a group of schools. This year, the project will be launched in several schools."
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The Cabinet of Ministers of the Republic of Azerbaijan has adopted a resolution to approve the "Rules for the Transportation of Passengers, Luggage, and Cargo-Luggage by Rail Transport." This resolution, No. 352, was signed by Prime Minister Ali Asadov and aims to improve the efficiency and quality of railway transport services in the country.
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The Cabinet of Ministers of the Republic of Azerbaijan approved a series of amendments to the excise rates on excisable goods imported into the country on July 23. The changes, ratified on January 19, 2001, and coming into force 30 days from today, aim to align tax rates with current economic conditions and trade policies.
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