As of 1 January 2013 the total amount of debts of taxpayers before the state budget was reduced in comparison with the beginning of last year to 501.9 million or 16.2%, reported in the analytical and Turan information department of the Ministry of Taxes of Azerbaijan.
At the beginning of last year, the debts to the state budget were 9471 subjects. During the past year the debts were formed in another 195,311 taxpayers. As a result of promotional activities were closed debts 196,393 taxpayers, the ministry noted.
The report emphasizes the Taxes that 31.7% of the state budget for taxes for the year 2012 accounted for payments on overdue tax debts and coercive measures to withdrawal of funds. Revenues from similarly unruly taxpayers have increased compared to 2011 years to 94.6 million manat. To ensure the collection of outstanding debts the Ministry of Taxes had to resort to 51 thousand cases to the decision on compulsory payment, and the census of property, confiscation of vehicles. - 08D-
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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