The entrepreneurs - residents of Azerbaijan, working in Italy, have received opportunities of tax benefits. According to the information of the Ministry of Taxes of Azerbaijan, the government of this country has put local businessmen in the so-called "white list" of jurisdictions in tax matters, which will improve conditions for entrepreneurs.
Recall, the majority of exports to Italy ($ 885,712,710, according to the Customs Committee by August 1) falls on crude oil, whilst the imports of Italian goods amounted to $ 209.08 million.
The "white list" approved by the Ministry of Economy and Finance of Italy includes 123 countries. Tax incentives include the provision of tax holidays for certain types of income. --17D-
Economics
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Food prices in Azerbaijan’s capital, Baku, increased by 5% during the first nine months of 2024, highlighting rising inflationary pressures in the domestic market, the Turan agency reported.
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Global grain prices continued their downward trajectory in August, as the FAO grain price index slipped 0.5% from July and a sharp 11.9% year-on-year decline, reflecting weakening demand and intensifying competition among major exporters. Wheat prices were particularly impacted by higher-than-anticipated production levels in Argentina and the United States, exerting additional downward pressure on the international market.
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Azerbaijan’s national air carrier, AZAL, has enhanced its international travel offerings through a new partnership with Ethiopian Airlines, providing passengers with increased connectivity and convenience for global travel, the airline announced on Monday.
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The Azerbaijan Trade Forum, held on October 7, underscored the vital role of small and medium-sized enterprises (SMEs) in enhancing the country’s non-oil exports. Jointly organized by the Small and Medium Business Development Agency (SMBDA) and the Association of Customs and Logistics Companies of Azerbaijan, and supported by Pasha Holding, the event brought together stakeholders from various sectors, including import-export, logistics, production, and customs representation.
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