Tax debts amounting to 98,786 manat of JSC Bakelektromashin can turn to its owners with deprivation of the land area. This week the JSC land area has been described in order to be further sold by auction.
According to the Taxes Ministry, the section of tax debts management of the Tax Department of Baku has conducted an inventory of the land area of JSC Bakelektromashin, which is estimated at 120,000 manat. About the area located in the Gala settlement of Baku nothing has been reported.
The Department of Revenue of Baku in 2013 accrued VAT to the enterprise producing electric machines, which was challenged in the courts. However, the lawsuit from JSC Bakelektromashin was rejected.
This is not the first conflict of the Taxes with JSC Bakelektromashin. In 2011, at a public auction were sold 7 electric motors at a total cost 13,750 manat. If this time the tax debts are not paid, the company may announce its collapse. - 08D-
Economics
-
SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
-
The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
-
Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
-
Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
Leave a review