After simplification of tax procedures and the transition to a single window business registration Azerbaijan occupies a niche middling.
In a review of Paying Taxes 2014 (http://www.pwc.com/gx/en/paying-taxes/assets/pwc-paying-taxes-2014.pdf), prepared by the World Bank and the international auditing company PwC, place the country among the 77 189 countries around the world.
Average taxes in the country accounted for 40 % of earnings of entrepreneurs (including individuals) on their pay out 214 hours a year (up to 2011 was more than 500 hours), with 18 mandatory payments. For comparison - in the world of the average tax burden of 43.1 % at 268 hours for payments and a much larger number of payments ( 26.7 ) .
The share of the burden of income tax (profit tax) in Azerbaijan is 12.9 % versus 16.1 % in the world for income tax (labor tax) - 24.8% versus 16.3 % in the world, for other taxes - 2.3% vs. 10.6 % of the world. - 17D-
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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