"Whitewashing" process of turnover concentrated in "shadow economy" accelerated - head of State Tax Service

Azerbaijan's expenditure on servicing its state debt and obligations surged significantly in the first quarter of this year, reaching 1 billion 88 million manats, marking a striking increase of 5.5 times compared to the same period last year, as reported by the Ministry of Finance.

Electricity production in the Republic of Azerbaijan witnessed a notable decline of 8.1 percent in the first quarter of this year, totaling 7 billion 129.3 million kilowatt-hours, according to official data released by the Ministry of Energy.

The Azerbaijani Parliament has greenlit an agreement aimed at curbing double taxation and thwarting tax evasion concerning income taxes between Azerbaijan and Turkey, marking a significant step towards bolstering economic cooperation between the two nations.

Economy Minister Mikail Jabbarov recently engaged in discussions with Alkis Vriennios Drakinos, the Regional Director of the European Bank for Reconstruction and Development (EBRD) for the Caucasus, aiming to fortify collaboration in tackling climate change through innovative financing mechanisms.