The Ministry of Taxes of Azerbaijan is developing a comprehensive approach to the introduction of new standards for value added tax to retail trade.
According to the Chief of the Tax Policy and Strategic Research Department Samira Musayeva, VAT should be differentiated, taking into account the sale of products of daily necessities and other categories of goods - that is a decision should be taken, which will not reduce the budget revenues and, at the same time, will not create barriers for entrepreneurs.
"The Ministry believes that this measure will promote the development of trade, as well as affect the incentives for non-cash payments and ensure the transparency of the turnover in trade and services," she said.
She recalled that on 1 January 2011, following the entry into force of the Tax Code, income tax was reduced from 27% to 20% and VAT - from 20% to 18%. --17D-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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