Azerbaijani companies continue to hold general meetings. Among other issues, there is also the distribution of profits as dividends. As in the past year, a 10% tax is levied from the accrued dividends.
The Capital Management investment company’s spokesman Jafar Ibrahimov said it is wrong, as since February 1 this year, dividends are exempt from tax for a period of three years. This step was taken to improve the investment attractiveness of the country.
However, the Ministry of Taxes approaches this problem from a different position. "The law on exemption of dividends on investment securities from tax came into force on February 1. Therefore, it does not apply to income received in 2015". ----08B
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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