The number of taxpayer identification numbers available does not reflect the reality of entrepreneurs operating in the country, as many of them are simply inactive, the economist Rovshan Agayev believes.
The expert refers to different statistics. According to the State Social Protection Fund (SSPF), by the end of 2016 the number of entrepreneurs (employers) was 147 thousand. In other words, only one out of five registered entrepreneurs are real payers of taxes and deductions for compulsory state social insurance.
At the same time, according to SSPF, for 10 months of 2016, 85,000 individuals were registered, while 103,000 individuals suspended their activity. As legal entities, the number of suspended (19,550) is 3.5 times higher than the registered (5,517) payers of compulsory state social insurance.
The Ministry of Taxes does not report actual tax payers. --08D
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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