The Ministry of Taxes Offers Shareholders of JSC AzNar to Seek Independent Auditor
The statements by the group of minority shareholders of JSC AzNar named after Teymur Akhmedov that tax offenses in this enterprise are not adequately assessed and the tax office allegedly favors tax evaders have no reason. It is said in the response to the request from Turan News Agency about the criticism by the shareholders of the Ministry of Taxes in the course of the 24th of June in Baku press conference of shareholders of JSC AzNar.
The response letter acknowledges the repeated treatment of shareholders in the Department of Taxes in 2012-2013 evasion of JSC AzNar from taxes. All were investigated and shareholders informed of this in accordance with the legislation, said in response to the ministry.
Besides the fact that the Ministry of Taxes noted that this year JSC AzNar held a new field audit of its operations for the period in 2012, during which they investigated the phenomenon reflected in the treatment of shareholders. They identified violations of tax laws with respect to the enterprise and legal measures were taken, Turan was told in the Ministry of Taxes.
"If these measures do not please a group of shareholders who have questioned the objectivity of the test, then they can carry out their own review by an independent auditor, and if they do not provide this feature, they can go to court," the Taxes Ministry summarized the attitude to the statements of shareholders of JSC AzNar.
A shareholder of AzNar Shahin Alizadeh did not agree with the position of the Ministry of Taxes. "In the course of the June 28 general meeting, we found that the tax audit imposed a fine in respect of the enterprise in the amount of AZN 4,000. However, it is minuscule in comparison to the real concealed from the tax turnover of the company, he said.
According to the shareholder, the tax office did not consider their main argument: fruit juices sold at below cost price and sold outside the country by now associated with the controlling entity Farhad Akhmedov - the company Grante at costs 2-3 times more expensive. In contrast to the minority shareholders, the Ministry of Taxes has a whole arsenal of possibilities to identify the causes of this nonsense, says Alizadeh. In addition, with regard to the Board of the Ministry of Taxes of the independent audit of JSC AzNar, the shareholder said that the right granted by the Civil Code, only holders of 10% or more of shares in companies. - 08B-
Economics
-
SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
-
The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
-
Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
-
Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
Leave a review