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…
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…
Zhambyl region increased its industrial output in H1 2016. In January-June the industrial output in Zhambyl region rose by 3.2% which puts it on the fourth position in the country ranking. Foodstuffs processing sector in the region demonstrates a 41% growth, while processing industry shows a 10.7% rise. Positive dynamics is observed also in light…
The North-South international transport corridor is one of the main issues between Iran and Azerbaijan as well as regional countries, Iranian President Hassan Rouhani said. He made the remarks while on an official visit to Baku on August 7, at a joint press conference with Azerbaijani President Ilham Aliyev. “The corridor will connect Azerbaijan to…
SUE “Center of radio communication, broadcasting and television” and MTS signed an agreement to acquire shares of MTS in the authorized fund of JV LLC “Universal Mobile Systems” in the amount of 50.01% of the authorized fund. Thus, SUE “CRCBT” became the sole founder of the mobile operator “Universal Mobile Systems”. As reported on the…
Relations between Azerbaijan and Iran have never been at such a high level as now, said Azerbaijan’s Economy Minister Shahin Mustafayev. Mustafayev made the remarks on August 6, at a meeting dedicated to laying foundation for a joint car plant with Iran’s Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh. He said Iran’s investments…