The tax burden will increase in Azerbaijan, including the expense of state monopolies. One example of this is last year's report on tax payments to the state budget.
As the press organ of the relevant ministry, newspaper Vergiler reported, referring to the head of the Department of Special Regime Revenue Service Zaur Fatizadeh, at the end of the last financial cycle the 7 largest state organizations paid to the budget 1 billion 978,200,000 manat (+ 15.7% compared to 2013, when it was paid 1 billion 710,100,000 manat).
According to the official, the "natural monopoly" in the past year provided 27.8% of the total tax revenues in the state budget through the Ministry (+ 2.1% to the end of 2013). --17D-
Economics
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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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