The Department for Preliminary Investigation of Tax Crimes at the Taxes Ministry of AR filed two criminal investigations into hiding from taxes totaling 1,112,183.1 manat, the official statement said.
A criminal case was raised under Article 213.2.2 of the Criminal Code against the individual Rufat Gabilov and Sama LTD, accused of tax evasion amounting to 562 483.61 AZN and 549 699.49 AZN respectively.
The investigation revealed that R. Gabilov headed the shop selling furniture Verona Lux in Baku, although according to the documents, since 2009 he has suspended his activities as a taxpayer. The investigation revealed that the furniture in the store was allegedly Italian, but in fact the whole party was local production – by the factory Sama LTD.
It was revealed that the furniture was delivered from the factory without the execution of the relevant documents, in violation of the rules of cash payments. Also, the check in Verona Lux and Sama LTD revealed the presence of "black accounts". - 17D-
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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