The Tax Ministry has prepared a proposal for the transition to electronic invoices for invoice provided goods (works, services). The ministry said that it will facilitate their integration, and reduce material costs (the cost of manufacturing overhead invoices) and save time.
The press service of the ministry told Turan, the new billing invoices will be provided by commercial entities of e-billing invoice that is created at the Electronic Tax Department of the Ministry on the Internet portal (www.e-taxes.gov.az). With the automated tax information system invoices will be provided a series and a number that will prevent their falsification.
Note that the Ministry of Taxes uses a lot of e-services (submission of tax returns, invoices, VAT, registration of legal entities and individuals, etc.). However, some taxpayers, especially those working in the city of Baku, claim that their work is checked by the Tax Service twice a year. Full-time tax audit is carried out both by the Audit Office and the City Department of Taxes (field audit), which does not usually end in favor of the taxpayer. - 08D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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