Within two months of 2016 through the State Customs Committee transferred to the state budget 243 million 262 thousand manats, according to the agency. This is 16% more than in the comparable period of 2015.
The growth of customs fees was reached in the reduction in the volume of imports, the main source of customs revenue.
However, please note that in the past year AZN underwent double devaluation. Experts note that customs duties and taxes are charged in dollars, and payments are made on them in the national currency.
Independent experts estimate that if the tax base amounted to 15.4% of the import volume, but this year the figure is no more than 13% in January-February 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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