President Ilham Aliyev signed on December 23 a decree amending the Regulation on turnover of goods subject to marking with excise stamps. The document provides for cash payment in the purchase of alcoholic beverages and tobacco products in retail from January 1, 2017.
In December last year the ban was introduced and from January of this year the wholesale and retail sale of goods subject to marking with excise stamps for cash was banned. But this system did not work from the first day. According to experts, this had several objective and subjective reasons: in many shopping sites there were no POS terminals, the buyers had no plastic cards, and several shopping facilities sabotaged the process at all.
Therefore, the Ministry of Taxes, which controlled the process, informally put up with it. And now, a year later, the Presidential Decree was amended. -----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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