In Azerbaijan in the last 7 years (2008-2014), 421 136 businesses were registered on the "single window" principle.
As stated in the press release of the Ministry of Taxes, the majority of them (90.1% or 381,957) are individual entrepreneurs, while the remaining 39,179 are traders with legal status.
With the introduction of the system, 7,045 limited liability companies (LLC) with exclusively local capital (39.2% of all businesses with legal status) have been registered as taxpayers.
Business registration system on the principle of "single window" was introduced on January 1, 2008. Thanks to it, the process of registration of legal entities and natural persons engaged in commercial activities is carried out within a day or two by the Ministry of Taxes. But then the market includes either "patronized" companies or those created just for single operations. The Taxes Ministry does not publish reports on the causes of withdrawal of entrepreneurs "without a patron" from the market. --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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