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
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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