During the operations carried out for the three quarters of this year, the Ministry of Taxes revealed evidence of evasion from registration of the employment relationship with the employees by 2,560 employers. Severe financial penalties were applied to them.
According to the Ministry of Taxes, for the first nine months of this year they found 4,228 people that taxpayers did not sign individual employment contracts with. This applies mainly to construction, trade and catering.
Since January 2006, in Azerbaijan, a system of individual registration of payers of compulsory state insurance has been applied. On July 1, the number of payers registered in social insurance reaches 2,047 thousand. However, inspection of Labor and Social Protection of the Ministry of Taxes revealed many facts of evasion of registration of employment relationship. - 08B-
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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