The Ministry of Taxes has developed specific recommendations in the framework of measures to encourage non-cash payments and their active promotion. In addition, as stated in his report, they determined the list of objects in which POS-terminals have to be installed.
A set of measures was designed by the Ministry of Taxes in conjunction with the Central Bank of Azerbaijan and is designed to encourage non-cash payments, as well as to limit the cash handling finances.
According to official figures, in 2014 across the country 51 thousand POS-terminals were set up, thus the total number of operating terminals was brought to 82 thousand. Most of them (64.1%) are in Baku, while the others are in the regions. --17D-
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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