Azerbaijan has limited cash transactions by large entrepreneurs operating in trade and public catering to 30,000 manats per month, starting from 2017, according to the amendments to the Tax Code approved at a plenary session of the Parliament. In accordance with the amendments, the limit affects the entrepreneurs operating in trade and public catering with…
Some 183 countries became Azerbaijan’s foreign trade partners in January-November compared to 162 countries in the same period of 2015, the country’s State Customs Committee said in a report. According to the report, 13,244 legal entities and individuals (of them 5,226 legal entities and 8,018 individuals) were involved in the country’s foreign economic activities. Azerbaijan’s…
The government of Azerbaijan plans to increase the share of the insurance market in the country’s non-oil GDP to 1.4% until 2020, the Strategic Road Map for Development of Financial Services in Azerbaijan said. Azerbaijan’s Financial Markets Supervision Chamber, which regulates the insurance market, said that the share of the insurance market in GDP was…
Azerbaijan has exempted the sale of poultry meat, production and sale of wheat flour and bread from value added tax (VAT) for three years starting from January 1, 2017, according to the amendments to the Tax Code approved at a plenary session of Parliament. The import and sale of wheat is also exempt from VAT…
The Islamic Corporation for the Development of the Private Sector (ICD) supports the economic reforms realized in Azerbaijan, Khaled Al-Aboodi, CEO and director general of the ICD, said. “We are ready to improve the quality of the goods produced in the country and to provide entrepreneurs with access to new technologies and markets. We are…
The European Union (EU) has allocated 14.5 million euros for Azerbaijan as part of the program on the country’s regional development, the Azerbaijani Economy Ministry said. The agreement, signed during the meeting between Azerbaijan’s Economy Minister Shahin Mustafayev and EU Ambassador to Azerbaijan Malena Mard, envisages twinning and technical assistance, creation of an information system…
In January-October Azerbaijan exported agricultural products valued at $311.673 million, up by 22.3% YoY, the Ministry of Agriculture declared. According to the announcement, fruit and vegetables formed most of the exports of agricultural products ($270.842 million). In January-October Azerbaijan exported 11.19 thousand tons of raw hides at $12.248 million, and 16.57 thousand tons of oats…