Devaluation of Manat Hit Profitability of Retail Network
The largest supermarkets of the country are unable to contain the former staff after the two-time devaluation of the manat. They appealed to the leadership of the Ministry of Economy with a request to grant tax incentives for the conservation of profitability while maintaining the price of the "social" product range.
As Turan was told by the head of the department of public relations of the Ministry Abbas Aliyev, a few days ago the owners of the chain stores Araz, Neptun, Bolmart, Bizim Market, Fresco, Sebet, and Macromart appealed to the head of the Ministry of Economy Shahin Mustafayev with the aim to apply the zero VAT rate on local socially important foods, including milk, flour, eggs, rice, meat, fish, oil, fruit, vegetables and baby nutrition.
On the morning of April 19 the Minister received a delegation of these supermarkets, promising to consider and positively solve the issue of reducing the tax burden or using tax incentives. The issue of tax holidays was not considered. --17D-
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