The Ministry of Taxes intends to have the debt repaid in full. In this connection, by order of the head of the Ministry, Fazil Mammadov, structural changes have been arranged.
According to the information, there is a new structure - the General Department of Analysis of Criminal Tax Offenses and Organization of Work for the Collection of Tax Arrears (the head is Vidadi Mammadov). Another new structure is designed to coordinate relations with foreign tax authorities, banks, insurance companies and financial institutions in order to exchange specific data. Rather, its staff will analyze the entrepreneurial activity of local businessmen abroad and make them pay their taxes. The Office for Mandatory Collection of Tax Debts has also been created, as well as a number of other departments.
These are cosmetic measures, experts say, because they do not affect the largest taxpayers headed by SOCAR, whose total debt amounts to about 5 billion manats. The problem is that these debtors are not private traders, but government monopolies, and the tax inspectorate has no authority to collect taxes from them in full, satisfied with the voluntary listing. Moreover, the closed and open joint stock companies annually borrow loans from foreign financial institutions under state guarantees and the government pays debts for them.
In addition, according to experts, there is one more practical drawback - the budget law is adopted for one year - from January 1 to December 31, after which the debts of the referred monopolies are written off and in February-March the country's President issues an order to allocate 200-300 million manats to each of them to cover the costs. This practice creates conditions for blatant corruption and embezzlement of budgetary funds. --17D-
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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