With regard to the interests of professional securities market participants, issuers and investors, the National Depository Center (NDC) has made changes in the rates for services provided.
In compliance with the changes, four types of tariffs were improved and tariffs on three types of services were applied. Abolished was the fee for the award of international identification codes of investment securities. Depositing of government securities will also be free.
The fee for the deposit of securities of commercial banks and insurance companies was equated to other issuers. Depositing services for housing certificates and keeping registers of owners are paid by a common procedure, but only once during their circulation.
NDC offers different operating companies in the country to use the correspondent depository relationships to establish an electronic information exchange with the Baku Stock Exchange. The annual fee for this service is 1,000 manat. In addition, NDC will charge another depositary for the ongoing operation 0.003% of each transaction amount.
The new tariffs came into effect on July 1. - 08B-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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