Belarus’ revenues from export trade in oil products and potash fertilizers dropped by $1.7 billion in January-May due to low prices, Belarusian Prime Minister Andrei Kobyakov said. Although Belarus increased exports in physical terms, export revenues fell by 1.1% YoY, said Kobyakov. According to him, the only way for Belarus to compensate for missing revenues…
Representatives of Belarus’ business community will be authorized to evaluate the regulatory impact of regulatory acts on business environment, in accordance with a bill prepared by the Economy Ministry of Belarus. Posted on the ministry’s official web site, the document will be forwarded for approving to the head of state. The document says that the…
It is planned to decrease tax rates in order to encourage non-cash payments in Azerbaijan, the country’s Deputy Taxes Minister Ilkin Valiyev said. “Encouraging non-cash payments and limiting cash payments will lead to a rise in the number of POS-terminals and to the transparency in the payment of taxes”, said Valiyev. “We have already had…
Azerbaijan’s state oil company SOCAR will produce over 7,660 tons of oil annually through commissioning a new well at the offshore Oil Rocks field, SOCAR said in a message. Oil is extracted from a wellbore within the range of 1,205-1,187 meters. SOCAR is implementing a program to stabilize and increase oil output. The company produced…
Turkey’s Foreign Minister Mevlut Cavusoglu has offered to connect the Turkish Stream pipeline, which is being developed by Russia, to the Trans-Anatolian Natural Gas Pipeline (TANAP), via which Azerbaijani gas will be delivered to Europe in 2020. Cavusoglu said Ankara would buy only 16 billion cubic meters of Russian gas per year via the Turkish…
American Chamber of Commerce in Azerbaijan (AmCham) welcomes Azerbaijani president’s order dated August 4, “On improvement of tax administration and approval of directions of reforms in taxation in 2016”. “We are glad to see that a number of recommendations to improve tax administration and simplify doing business in the country, proposed to the Azerbaijani government…
Companies controlled by Belarus’ petrochemical industries concern Belneftekhim produced a $339 million foreign trade surplus in January-June, Belneftekhim said in a release. In physical terms, petrochemical exports remained unchanged year on year in H1 2016. In value terms, exports of chemical and petrochemical products have dropped by more than $1 billion due to the drop…