The Ministry of Taxes has completed the publication of information of the state register of commercial legal entities passed state registration in February. Turan analysis shows 25% of new companies are fakes and have been set up to assign the state budget and to be used in customs operations.
In February, the state register of commercial legal entities included 494 organizations. Turan, using the experience gained in the previous period, estimated that at least 124 of them are designed for use in dirty operations. It is noteworthy that these companies are "printed" through electronic services: unknown founders use modern information and communication technology for registration.
Typically, these companies have a start-up capital not exceeding 2-10 manat, a folder with the necessary documents and printing. After some time, they are connected to government procurement, which results in several hundred winners of tenders and quotations. Imports of certain goods by private companies and individuals are also issued in the name of such companies in order to assign further VAT.
The analysis shows that the legal representatives of fake companies are appointed a certain circle of people. Legal addresses of these companies are also limited to certain places in Baku and regions of the country.
Turan has repeatedly written on this topic. However, the police do not respond to this. Creating fake companies continues. -----08B
Economics
-
As 2024 comes to a close, Azerbaijan finds itself at a crossroads—holding a prominent position in certain sectors of the global economy but still grappling with issues that hinder broader socioeconomic development. From energy exports to logistics corridors, the country has carved out a niche, yet cracks in its socioeconomic fabric are becoming harder to ignore. Let’s delve into the numbers and listen to expert opinions on Azerbaijan's global standing.
-
Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
-
As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
-
Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
Leave a review