The Turkish government considers exemption of the companies transporting oil and gas via pipelines from VAT, reported Turkish Sabah newspaper.
“The tax amendments submitted to the Turkish government envisage exemption of the companies transporting oil and gas via the pipelines from VAT. If the proposal is taken, VAT concession will be also applied to construction of the trans-Anadolu gas pipeline (TAP),” the newspaper reads.
The newspaper reported that the oil companies buying building materials for the pipelines will be also exempt from VAT.
“The measures will allow increasing flow of investments into Turkey’s energy sector and reduce deficit of the current transactions of the payment balance,” the newspaper reads.
It was earlier announced that Turkey and the autonomous province of Iraq Kurdistan have signed several contracts, which allow Kurdistan exporting oil and gas via the pipelines on the territory of Turkey.—0—
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review