Futher changes will be made in the Tax Code of Azerbaijan, said at today's press conference in response to orders of the President on August 4 "On the improvement of the tax administration and approve directions of reforms carried out in the tax area in 2016," the deputy minister taxes Ilkin Veliyev. According to him, first of all it is necessary to tighten control over the operations of the country's citizens, carried out in the territory of offshore zones, as well as to encourage non-cash payments by a decrease in average tax rates. He touched the introduction of the system Tax Free, carried out from 16 June to foreigners. According to official data, beginning from this date more than 104 million manat was transferred to citizens of 45 countries (80% VAT on the purchase of specialized stores at the territory of Heydar Aliyev International Airport Deputy Minister did not rule out the possibility of its application in all other checkpoints of Azerbaijan. - 17D-
Economics
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The Baku International Sea Trade Port, a critical link in the Middle Corridor connecting East and West, handled 7.6 million tons of cargo in 2024, marking a 3.2% increase from the previous year. This growth underscores the port's expanding role in global trade and its significance as a transit hub for countries such as China, Turkey, Georgia, Iran, and Russia.
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Azerbaijan’s state oil company SOCAR has acquired a 3% stake in the offshore SARB and Umm Lulu concession in the United Arab Emirates (UAE) from Abu Dhabi National Oil Company (ADNOC) for $285 million, marking a significant step in deepening energy ties between the two nations. The transaction, completed in May 2024, was completed in January 2025.
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The Baku Small and Medium Business (SME) House and the Miniboss Business School have signed a memorandum of understanding aimed at developing entrepreneurial skills among children, the Small and Medium Business Development Agency (KOBIA) reported on Monday.
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In 2025, Azerbaijan's information security and digital infrastructure remain under pressure, as experts highlight the absence of a National Internet Exchange Point (IXP). Osman Gunduz, head of the NGO Multimediya, has renewed calls for the Information and Communication Technologies Agency (İKTA) to spearhead the creation of a Milli İnternet Mübadilə Mərkəzi (National Internet Exchange Centre) in collaboration with key local providers Azertelecom, Delta Telecom, AzTelekom, and global industry leaders.
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