In 2014, Azerbaijan’s 535 hotels and hotel-type facilities paid taxes to the state budget at only 28.2 million manats. This includes the VAT included in the price of hotel rooms.
According to Turan in the State Statistics Committee, last year's revenue of hotels from accommodating guests, sale of food and beverages, as well as services rental of premises for various events, etc. amounted to 181 million manats, an increase of about 10 million manats. The costs of operation of hotels for the year grew by only 1.6 million manats and reached 147 million manats.
Despite the increase in income, tax payments of companies providing hotel services for the year fell by 1,750,000 manats or 5.9%.
According to the SSC, hotels of Azerbaijan have more than 9 thousand workers. Over the past year the number rose by 750 people.
Hotels usually do not disclose their financial performance. Many of them have double-entry bookkeeping, in order to evade taxes.
Several years ago, the owners of hotels campaigned to eliminate the value added tax for the hotel business. --08B
Economics
-
Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
-
Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
-
On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
-
In 2024, Azerbaijan's "Single Window" Export Support Center processed 1,747 requests from businesses and individuals, facilitating the issuance of 3,982 export certificates. According to Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, these efforts supported export operations valued at USD 288.2 million.
Leave a review