The Taxes Ministry updated the tax reporting form for the commercial entities registered in Azerbaijan. In June, the Parliament imposed restrictions on the published data on the companies, according to which information about the founders and their shares in the companies equated to commercial confidentiality.
The Internet site of the Ministry of Taxes has a section with registry of data about commercial facilities. Last time the Ministry of Taxes, which is a body of state registration of commercial legal entities from January 2008, updated the registry for the registration of companies in July. The press service of the ministry told Turan that henceforth information on registered companies will not be granted for a specific month.
According to the new database, search for companies will be arranged by name and by the taxpayer identification number (TIN). Defining INN by the company's name, they search information on the full name, the amount of the share capital, legal representatives and the financial year of the company. -08 -
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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