Reinsurance Company «AzRe» increases charter capital up to AZN 50 million. The Chamber of supervision of financial markets registered shares of «AzRe» reinsurance company. The Chamber registered 2.000 shares with a nominal value of 25.000 manats. The shares will be placed by conversion of 2.000 shares with a nominal value of 20.000 manat. --71D--
Economics
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The Cabinet of Ministers of Azerbaijan approved new rules for the transportation of goods by rail on September 3, aimed at enhancing the efficiency of freight transport across the country’s railway network. The decision is part of a 2015 presidential decree designed to improve the operations of the state-owned Closed Joint-Stock Company “Azerbaijan Railways.”
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On September 3, the Cabinet of Ministers of Azerbaijan approved a new list of fixed assets that are the subject of leasing contracts and exempt from value-added tax (VAT) on imports, in accordance with recent amendments to the country's Tax Code.
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The Cabinet of Ministers of Azerbaijan has announced a series of amendments to the customs duty regulations, aimed at revising tariffs related to scrap metal and waste. The changes are part of the implementation of a recent presidential decree and are set to come into effect in 60 days.
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The Agricultural Subsidy Council has announced the introduction of a new type of subsidy. According to the institution's decision, starting next year, an additional 60 manat per hectare subsidy will be provided for fields using modern irrigation systems. It is stated that subsidies for repeated crops will only apply to irrigated areas starting from 2025.
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