The largest fine the last time the State Service for Antimonopoly Policy and Consumer Protection under the Ministry of Economic Development (MED) of Azerbaijan has adopted in respect of LLC "ENGIN LTD".
For violation of the rules of advertising, the company punished by 1 million 784 thousand 484 manats. Monitoring MED (http://www.economy.gov.az/index.php/az/ministry/press/news/1226-engin-ltd) recently revealed a number of violations of the law, so that customer promotional products were applied financial sanctions, the ministry said. They revealed the use of illegal advertising, affecting the freedom of choice of consumers in advertisements toothpaste "Blend-a-med", toothbrushes "Oral-B" and feminine sanitary pads "Always-Ultra".
Advertise suspended for violation of antitrust laws in respect of a criminal case under the Code of Administrative Offences.
It turned out that the management of the limited liability company ENGIN LTD submitted confusing numbers to the investigation. Such a large amount of the fine is part of this circumstance.
Representatives for several days refused to answer questions from Turan, call (012) 447 76 00, citing ignorance.
This is not the first conflict between MED and ENGIN LTD. So, in April 2010 the Ministry of Anti-Monopoly Service has identified the warehouses at Narimanov district, the 1222 quarter, 12 of about 12 tons of expired food and 43 thousand units of non-food goods.
To determine the scope of monopolization of the market structure of this distribution, it is sufficient to view a list of world-renowned companies who are its partners. Among them, there are Procter & Gamble Company, Gillette, Walkers, Lorenz Snack-World, Wella, Ferrero, Uni and others, which accounted for more than half of the market filled with licensed products.
The founder of the Company registered in the Ministry of Taxes December 22, 2000, is the Anar Akif oglu Ibragimov. The authorized capital of $ 463 million
Judging from the range, with a multi-million dollar company works with all the outlets of the country, but is closed to the public. Its virtual page is www.engin.az., whose "Update" reports that in 2011 it became the official distributor of the English "Queen of cakes and pastries" Walkers. The news section is empty.
Experts believe that in the context of the local economy as rich a distribution list can be from people close to the officials of high rank. The company also does not apply to large taxpayers, which indicates the strong position "above". The causes of the conflict of MED with this company are not obvious, and are, most likely, the nature of "custom periodicals." - 17D-
Economics
-
The Cabinet of Ministers of Azerbaijan has approved a new Unified Tariff Schedule to determine the monthly salaries of public sector employees financed through the state budget. This decision, outlined in Decree No. 540, comes into effect on December 26, 2024, and is aimed at standardizing wages in the public sector.
-
On December 27, Azerbaijani President Ilham Aliyev has signed a decree to dissolve the Azerbaijan Industrial Corporation (ASK) and transfer its key assets to the Azerbaijan Investment Holding (AIH), marking a significant step in streamlining the management of state-owned enterprises. The decision, effective immediately, aims to address regulatory issues and enhance operational efficiency.
-
President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
-
Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
Leave a review