The total tax debt of commercial banks to the state budget of Azerbaijan as of September 1, 2016 was AZN 2,376,223, the Ministry of Taxes said.
The Ministry in response to the corresponding request from Turan noted the total tax debt of insurance companies is 2,711 manats.
The Ministry of Taxes did not report the tax debts of separate banks or insurance companies, noting that according to the 30th article of the Tax Code, the amount of taxes paid by the taxpayers, including banks and insurance companies, is considered to be a trade secret. -71B-
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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