In 2012, members of the State Committee on Property Issues involved in state registration of property rights received as bonus 2 million manat. These funds are provided under the government's anti-corruption measures.
The acting 20 zonal offices and district offices of State Register Service of Real Estate work for self-financing. The Tariff (Price) Council of Azerbaijan set on July 31 fees for services, which are quite high for cost of living in the country. In addition to this, there are state duties for registration of property and other services provided by the Service, the amount of which is from 10 to 50 manat.
The State Committee noted that the staff of the Service received a remuneration of 30% of the collected state taxes. Recall that in 2012, the owners were given 150 000 extracts from the register of real estate (the fee is 30 manat), about 140 000 technical certificates (50 AZN), 110 000 certificates of occupancy of the property (10 AZN), etc.
In compliance with the decree of Azerbaijani President Ilham Aliyev on 24 November 2011, 30% of the funds from the state duty for state registration of property rights and other merchandise to the Special Account of the State Committee for strengthening social protection and improvement of the material conditions of service of employees of state registration of real estate.
Independent experts say that since 2012, the situation with the state registration of legal rights to real estate has improved, and the facts of corruption and bribery have considerably decreased. -08D-
Economics
-
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.
-
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."
-
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.
-
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.
Leave a review