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COVID-19 and Changing Patterns in Global Economy
In a coronavirus situation when people stay at home, consumption becomes limited and businesses suffer; the
focus of solving state economic problems shift from monetary policy to a fiscal one. The spread of coronavirus and inability of the OPEC countries to develop joint policies contributed to decrease of Brent oil price. The double shocks of pandemic and political-economic news have created an environment of unprecedented uncertainty. As a result, oil and gas companies, as well as oil-producing countries will suffer.
20.04.2020
Measures to be taken to protect jobs, support employment and social security in Azerbaijan
The Decree #1950 of the President of the Republic of Azerbaijan dated March 19, 2020 regulates a number of measures to reduce the negative impact of the coronavirus pandemic (COVID-19) and, as a result, sharp fluctuations in world energy and stock markets for the economy of the Republic of Azerbaijan, macroeconomic stability, employment and entrepreneurship.
Brief information on the mechanism of providing financial support to entrepreneurs affected by the coronavirus (COVID-19) pandemic in Azerbaijan
The Cabinet of Ministers of the Republic of Azerbaijan adopted Action Plan in accordance with the paragraph 10.2 of the Order #1950 of the President of the Republic of Azerbaijan dated March 19, 2020.
10.04.2020
Frequently Asked Questions (FAQ) during special quarantine regime in Azerbaijan
The information on the following employees shall be entered into the portal "icaze.e-gov.az" by the employer using an electronic signature
Nobel Brothers' history in Azerbaijan
The first foreign company in Baku was founded by the Nobel brothers - Alfred, Ludvig and Robert. Few people know about the deep connection of the Nobel Prizes with Baku’s oil.  12 percent of the prize was said to be from Alfred's shares in the Nobel Brothers' Petroleum Company in Baku.
VAT refund procedure legal update
Regulation for refund of value added tax (“VAT”) paid by individuals, who are consumers, for goods (except for oil and gas products) purchased from persons engaged in retail trade or public catering in the territory of the Republic of Azerbaijan (“Regulation”) has been adopted by the Decree of the President of the Republic of Azerbaijan dated March 21, 2020.
Employment and employee benefits in Azerbaijan: overview
The Labour Code of the Republic of Azerbaijan (Labour Code) provides in Article 5.1 that unless otherwise stipulated by agreements signed by Azerbaijan with other foreign countries and international organisations
Credit Unions in Azerbaijan
 There are presently 45 credit unions in Azerbaijan competing for customers. Yet what’s their working principle? But first, let’s look at why there is so little we know about them.
Enforcement of foreign arbitral awards by Constitutional Court of the Republic of Azerbaijan
On 15 April 2019 Azerbaijan’s Constitutional Court (“CC”) adopted a decision on invalidation of the decision of the Supreme Court (“SC”) on refusal to recognise and enforce an arbitral award which was issued by the Korean Arbitration Council.
Amendments to the Tax Code of Azerbaijan
Significant changes have been made to the Tax Code of the Republic of Azerbaijan by adopting Law “on Amendments to the Tax Code” dated 30 November 2018, effective as of January 1st, 2019 (“Amendment Law”).