In the first 11 months of this year 4,820 vehicles were delivered to Azerbaijan, which is 5.3 times less than in the comparable period of 2015. Experts point out that the situation in the car market clearly indicates the position of consumer demand and characterizes the economic crisis in the country.
According to the State Customs Committee, from the beginning of the year, 4,194 cars have been purchased abroad, 18,500 less than last year.
This year, the decrease in import of buses and minibuses (80) was tenfold, trucks (463) - fourfold, and special-purpose vehicles (83) - threefold.
Since January 2016 the excise rate for imported cars has been raised. The Ministry of Taxes has prepared and submitted a bill to Parliament, providing for an increase in excise taxes on expensive cars. It would be a kind of tax for the rich, according to the government. This step is planned to partially offset the decrease in revenues from car imports. ------08D
Economics
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The Cabinet of Ministers of Azerbaijan has approved a new Unified Tariff Schedule to determine the monthly salaries of public sector employees financed through the state budget. This decision, outlined in Decree No. 540, comes into effect on December 26, 2024, and is aimed at standardizing wages in the public sector.
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On December 27, Azerbaijani President Ilham Aliyev has signed a decree to dissolve the Azerbaijan Industrial Corporation (ASK) and transfer its key assets to the Azerbaijan Investment Holding (AIH), marking a significant step in streamlining the management of state-owned enterprises. The decision, effective immediately, aims to address regulatory issues and enhance operational efficiency.
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President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
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Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
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