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-
Economics
-
The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
-
The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
-
Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
-
Turkey aims to achieve carbon neutrality by 2053, transforming key sectors of its economy in line with a vision of "net-zero emissions and green development," President Recep Tayyip Erdogan announced at COP29 in Baku on Monday.
Leave a review