From January 1st a new tax will enter into force in Azerbaijan – AZN per 100 square meters for non-agricultural land.
As Turan was told in the Ministry of Agriculture, a draft has been prepared on the “criteria and rules determining the intended use and the impossibility of the intended use of agricultural land.” A document was prepared in order to apply changes to the Tax Code on the taxation of unused agricultural land.
Land used for its intended purpose and not suitable for use for objective reasons (lack of irrigation, land reclamation and so on agronomic conditions) is taxed at a rate of 0.06 manat for 1 conventional point. ----08D
Economics
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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