The government is frantically looking for ways to fill the budget, which is melting before our eyes because of the sharp drop in oil revenues.
Yesterday the parliament received a package of amendments and additions to the Tax Code, which, according to its authors, is designed to increase tax collection.
Thus, the changes suggest that, in violation of the trade rules and the rules applying cash calculations, if it happened for the first time, the penalty should increase from 400 to 2,000 manats.
At repeated violation the fine will amount to 4,000 manats (it was AZN 800 before), and if it has happened three or more times – 6,000 manats (it was AZN 1,200).
Violation of the rules of cash payments means trade without cash registers or forms, use of cash registers without registration in tax bodies, non-issuance of checks, etc. -02D-
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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