Today, October 12th, the merger of 30 companies with LLC Ram-Nur was announced. On completion of the merger, the remaining 30 companies will be eliminated.
In the global network there is no information on the business activities of these companies, including Ltd. Ram-Nur. The Director of the company is Ramiz Gochaliev. The company's capital does not exceed 50 manats.
These companies were set up in 2008-2013. As Turan IA found out, the founders of these companies are different individuals, although 31 companies were established at 7 addresses in Baku.
The Ministry of Taxes included Director of LLC Tekhnovilla Kenan Veliyev in the list of persons, whose leaving the country is limited because of the tax debt. Turan clarified the debt is 4,508 manats. And in 2015, the State Social Protection Fund filed a lawsuit against Elite Catering Company because of the debt on compulsory social insurance. ----08D
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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