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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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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