Baku hosts the fifth tax forum "Tax system in Azerbaijan: realities and prospects". Taking into account the participation of the World Bank, the event can be called an international. All branches of government are taking part in the forum, including the Presidential Administration, MilliMajlis, Cabinet of Ministers and the National Academy of Sciences, local banks, non-governmental organizations, associations of entrepreneurs and some businessmen.According to Deputy Minister of Taxes Sahib Alakbarov, last year GDP grew by more than 1%; about$20 billion were invested in the economy, half of which are foreign. He emphasized the increase in the revenue side of the budget, which involves the growth of the share of taxation – i.e. the entrepreneurs must, unlike the past years, in time and fully replenish the treasury, to fulfill tax obligations, to keep rightrecords, and do not evade taxes. --17D-
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review