In the four months since the beginning of this year the Ministry of Taxes transferred 2 billion 204.9 million AZN to the state budget. The Analytical Information Department of the Ministry reports the plan was surpassed by 4.8%.
Compared to the same period of 2015, the volume of the collected taxes decreased by 163 million, and compared to the same period in 2014 – by 445.5 million manats.
From this year the Ministry of Taxes has given "breathing space" to taxpayers: field tax audits, operational activities in trade and other objects virtually reduced to a minimum. Formally, it is explained with the intention of supporting entrepreneurship as part of measures to stimulate the development of non-oil economy.
This year the plan of contributing taxes and state duties to the state budget by the Ministry of Taxes has decreased by 410 million mantas, with the actual performance of the forecast for 2015 (7 billion 12 million AZN). -----08D
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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