“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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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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