The number of taxpayers, including legal entities, registered in January-September (58,473 people) fell by 4.4% compared to the same period last year (61,181).
Despite the fact that Azerbaijan from 1 January 2008 moved to a system of simplified business registration principle of "single window", it has not yet created the conditions for the full activity of small and medium-sized businesses. In addition, the tax authorities do not define the terms "vacation", appointing the payment terms, as well as business checks, which is not done on a legal basis, but at the request of inspectors, which just try to exceed the plan. These are the main reasons for the reduction of business activity.
According to experts, the system of "single window" is progressive, since the registration of merchants (businesses and individuals) is carried out within one to two days. However, important is implementation aimed at supporting business and not at fiscal pressure on its representatives.
Recall that last year the Ministry of Taxes registered 82,688 taxpayers. --17D-
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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