The government proposes to extend the exemption from payment of VAT on the import and sale of wheat and the production and sale of flour and bread for another three years. This was said by the Minister of Taxes Fazil Mammadov at a meeting of the Parliamentary Committee for Economic Policy, Enterprise and Industry and the Committee on Legal Policy and State Building.
Note that the government imposed discounts on the payment of VAT in January 2016 in order to prevent the growth of prices for flour and flour products, and the period of these discounts expires on January 1, 2017.
The Minister also said the government proposes to exempt from VAT the sale of poultry meat for three years. ------71D
Economics
-
Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
-
Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
-
Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
-
Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
Leave a review