“If tomorrow people go to Georgia to open a bank account, it will be a natural response to the 18% VAT on e-commerce in Azerbaijan purchases abroad,” said the President of Azerbaijan Internet Forum Osman Gunduz .
Azerbaijani citizens prefer to go on vacation to Georgia. Now, in order to reduce their costs, they will also "stock up" bank cards of Georgia, Gunduz wrote in his Facebook account. From this year, according to the amendments to the Tax Code, the purchase of goods from foreign online stores, Play Store bank cards of Azerbaijan, as well as advertising services through social networks and Google VAT will be deducted.
According to Osman Gunduz, rather than to limit the opportunities of e-commerce, it is necessary to stimulate the local e-commerce and fully integrate into the international payment portals. ----08D
Economics
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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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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
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