The Ministry of Taxes has published a list (http://goo.gl/N4Ft3Y) of companies, the leaders of which are prohibited from leaving the country because of tax debts. Among them there are many foreign citizens.
The list includes 313 leaders of companies, and in a number of them directors are the same people. Forbidden from leaving the country are directors of about 10 housing co-operatives. Most are little-known companies. But there are several well-known companies (Accord Hydrotechnical Construction Company, NJT-2000, Azercot, Kazbegi Azerbaijan, Aicon Spit, Navanord Agroprom, etc.).
Several foreign companies, which are led by foreign nationals, owe the state budget. These are LLC Faroz, Beteko Group, Akser, E 27, Raduga Stroy, Lindner, EMCN Yapi Endusrtiyel Insaat Sanaye ve Ticaret, Az-Baysped Lojistik, representative of Endiseyi Orman Tebriz, representation of the company Kemoniks Interyesnl, Inc. and others.
The Ministry of Taxes does not report the amount of the tax debt, although it is not considered information closed to public. ---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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