Composition of Interdepartmental Commission for Cash Registers Revised
The Cabinet of Ministers approved on March 29 a new composition of the interdepartmental expert commission for cash registers. The commission in its former composition operated since 1995.
The commission consists of 9 members, which are headed by the Minister of Taxes. It includes representatives of the Ministries of Taxes, Finance and Economics, the State Statistics Committee, the State Committee for Standardization, Metrology and Patents, as well as the Central Bank and the Central Union of Cooperatives.
The authority of the expert commission includes the organization of production, application of cash registers and the creation of a state list of cash registers used in the country.
Despite the efforts of the government and the adoption of regulations, cash payments in the sphere of trade and services are still carried out in violation of the rules for the use of cash registers, which leads to tax evasion. -------08D
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review