Last week review (Feb.11-15)

Feb. 11

Azerbaijan eliminates double taxation with six more countries

Azerbaijan intends to sign an agreement on the avoidance of double taxation with six more countries, a report published in the Taxes Ministry's newspaper Taxes said.

'The next stages of negotiations were held to conclude the agreements on avoidance of a double taxation with Slovakia, Montenegro, Albania, Portugal and Malta', the message said. 'All procedures were completed to sign the agreement with Macedonia'.

Today, Azerbaijan has signed agreements on the avoidance of double taxation and prevention of tax evasion with 43 countries.

Azerbaijan starts creating low orbit satellite

Azerkosmos OJSC has begun making low orbit satellites based on the existing requirements of technical parameters for satellites, the JSC said.

As part of the work on the launch of sensing satellites, the company conducted a study on the benefits of low orbit satellites in the domestic and foreign markets.

"The results of the tender announced for construction of a low orbit satellite will be made public in the near future. The ground station constructed in Azerbaijan will receive images from the satellites of other countries, as well as meet requirements for optical and radar images in regional markets. It was then the tender for purchase of a universal ground station and provision of services for reception of satellite images from other satellites was announced," the company said.

Azerkosmos OJSC is preparing a business plan noting the possibility of using satellite images in the domestic and regional markets and mentioning its benefits.

Feb. 12

Azerbaijani President chairs conference on State Program for socio-economic development of the regions

President Ilham Aliyev chaired a conference on results of the 4th year of implementation of the "State Program for socio-economic development of the regions of the Republic of Azerbaijan in 2009-2013" at the Baku Business Center.

The Head of State first viewed an exhibition at the center reflecting what was done in the country`s regions under the 2003-2012 program.

The President was informed that Azerbaijan`s Gross Domestic Product grew three-fold in 2003-2012, including 2.4-fold in the non-oil sector, while average monthly wage increased 5.1-fold.

The Head of State was also told that the country`s currency reserves grew 28.8-fold during this period to reach $46 billion.

President Ilham Aliyev made a speech the event.

Feb. 13

Azerbaijan and Canada discussed opportunities of cooperation in oil and gas spector

Ambassador Extraordinary and Plenipotentiary of Azerbaijan to Canada Farid Shafiyev made a business trip to the province of Alberta, the oil and gas centre of Canada, to discuss the opportunities of economic cooperation. The first meetings were held in the "oil capital" of Alberta, Calgary.

The main subjects of the meeting of Mayor of Calgary Naheed Nenshi and the ambassador of Azerbaijan had become local governments of Azerbaijan and Canada, as well as partnership opportunities between Azerbaijan and Calgary. In addition, special attention was paid to the opportunities of cooperation between Azerbaijan and Canada in the fields of oil, gas, science and education, recent of which included the question of attracting Azerbaijani students in Calgary university.

Azerbaijani Ministry of Taxes defines system integrator for introduction of e-payment

The Ministry of Taxes of Azerbaijan and Goldenpay reached a preliminary agreement on the possibility of introducing a system of electronic tax payments, Goldenpay said.
Goldenpay, which serves as the system integrator, is seen as a structure for the system's technical construction.

The project will allow taxpayers to make payments to the state budget via the Internet. The processing of payments using bank cards via the Internet will allow the minimization of transaction costs and costs associated with the collection of taxes and duties.
The processing center, the main task of which is providing the ability to accept payments by credit cards, coordinates payments between the card issuing bank, conducting the authentication transactions, the point of sale (in this case, the tax authority) and the holder of the credit card.

In turn, the online payment service provider allows for the payment of services provided by plastic cards through the Internet.

Next meeting on Baku-Tbilisi-Kars railway project to be held in Turkey

Azerbaijan and Georgia have come to a complete understanding on all issues on the agenda of the Coordinating Council for the construction of the Baku-Tbilisi-Kars railway, Azerbaijani Transport Minister Ziya Mammadov said following a meeting in Tbilisi.

"The most important thing in today's agenda is approving the budget for the Georgian section, which will amount to $ 175 million this year," Mammadov said.

He said after the improvement of weather conditions, work will continue rapidly, trains will be running on this line by the end of the year. "We have been promised and we believe that this will be fulfilled," Mammadov said.

The minister noted that Azerbaijan, Georgia and Turkey are ready to fulfill their obligations under the project.

The Minister stressed that a trilateral meeting of the Coordinating Council will be held in Istanbul on February 22.

Azerbaijan elected to International Telecommunications Satellite Organization staff

"Azerkosmos" company representative Mezahim Guliyev was elected Deputy Chairman of the International Telecommunications Satellite Organization (ITSO) for Eastern Europe and Northern Asia, the Azerbaijani Communications and IT said.

According to the organization, the elections took place during the 35th meeting of the ITSO Assembly, held in Uganda. After the votes were counted, along with Poland, Azerbaijan was admitted as a permanent member of the advisory committee from Eastern Europe and Northern Asia.

Feb. 14

Standard & Poor's assigns 'BBB-' long-term credit rating to Azerbaijan-based electric utility

Standard & Poor's Ratings Services said today that it has assigned its 'BBB-' long-term and 'A-3' short-term corporate credit ratings to Azerbaijan-based electric utility Azerenerji JSC. The outlook is stable, Standard & Poor's press release says.

Azerbaijan, Kuwait sign five documents

A protocol was signed between Azerbaijan and Kuwait following the second meeting of the intergovernmental commission on trade and economic cooperation.

A delegation headed by Deputy Prime Minister of Kuwait, Foreign Minister, Sheikh Sabah Khalid Al-Hamad Al-Sabah is in Baku.

The protocol was signed by foreign ministers of both countries.

Also four intergovernmental agreements were signed on cooperation in the sphere of culture, customs, security and fight against crime and cooperation between the diplomatic academies.

Azerbaijan eliminates double taxation with Israel

Azerbaijan and Israel have completed the first phase of negotiations on a draft intergovernmental convention on elimination of double taxation and prevention of tax evasion.

This is stated in a report published on Thursday in the "Taxes" newspaper (print edition of the Ministry of Taxes of Azerbaijan).

As a result of negotiations between experts of the Ministry of Taxes of Azerbaijan and Tax Administration and the Ministry of Finance of Israel, held in late January in Baku, the parties agreed on most items of the convention and decided to continue work on harmonization of points that require further discussion.

To date, Azerbaijan has signed agreements on the avoidance of double taxation and prevention of evasion of taxes with 43 countries.

Uzbekistan reveals its COVID-19 data for September 24
Uzbekistan reveals its COVID-19 data for September 24
Kazakhstan to open General Consulate in Samarqand
Kazakhstan to open General Consulate in Samarqand
Uzbekistan slightly reduces imports of leather goods from Turkey
Uzbekistan slightly reduces imports of leather goods from Turkey
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