Veterans of the first and second group, people with disabilities, internally displaced people and refugees began to enjoy preferential tax treatment. Fans as gambling, ex-presidents of Azerbaijan and their families is generally exempt from income tax.
According to the Chief of the Tax Policy and Strategic Studies of the Ministry of Taxes Akif Musayev (an interview with "Azerbaijan"), the citizens of these categories will save AZN 47 mln from changes to the income tax.
The essence of innovation is that from the beginning, the maximum income tax rate in Azerbaijan reduced from 30% to 25%. Amount of income taxable at 14%, increased from 2 to 2500 manats.
Amount of income for individuals (not businesses) taxed at a rate of 14% has increased from 24 000 to 30 000 manats. - 17D-
Economics
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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.
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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.
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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.
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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.
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