Today, the Ministry of Taxes announced closure of branches of three foreign companies.
The company Wenaas Caspian is the main unit of the largest supplier of work clothes in Europe - KWINTET AS. It has worked in Azerbaijan since 1999.
The service company Black Gold International Oil FZCO (United Arab Emirates) has operated in Azerbaijan since 2007 and is indirectly related to the group of companies Azersun Holding. Its head Koksel Kirtanir represents a number of companies in this group (Middle East Petroleum FZE, Access Trans, Qafqaz Trans Service).
The closure of a branch was also stated by Hong Kong company Velosi (HK) Limited. This company has been working in Azerbaijan since 2004. -----08D
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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