This year, the ministry will introduce a tax system taxes on mobile phones. It is already underway in this direction.
According to the head of the Main Department of Tax Policy and Strategic Studies Akif Musayev, it will be possible thanks to the introduction of Pre-filled tax return. Innovation involves filing tax returns by the tax authorities in electronic form.
At the initial stage, the system Pre-filled tax return will cover the value-added taxes. The data in the declaration will be made based on the performance of electronic invoices for VAT. The Ministry through the escrow account for VAT can track all transactions of the taxpayer.
Drafted by the declaration will be forwarded for approval to the taxpayer or to the adjustment in the event of discrepancies. The entire filling process and the declaration of the taxpayer will be carried out in real time.
According to the World Bank, the entrepreneurs in Azerbaijan for filling VAT returns spend 141 hours a year. Application of Pre-filled tax return will significantly reduce the time. In addition, the system can reduce administrative costs taxpayers. - 17D-
Economics
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Azerbaijan’s livestock sector has demonstrated modest growth in domestic production, yet it faces significant challenges as imports of meat and dairy products surge. Recent data from the State Statistics Committee underscores this dichotomy, revealing increases in local output but an even sharper rise in imports, accompanied by persistent price inflation.
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Azerbaijan's agricultural sector faces a critical moment as modest growth in grain production fails to offset a troubling decline in productivity. Data from the State Statistics Committee shows that total grain and legume production grew by 0.7% year-on-year, reaching 3.2 million tons by November 1, 2024. However, this growth is overshadowed by a sharp 6.2% drop in yield, highlighting structural inefficiencies in the sector.
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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