Non-oil sector provides over 50% of tax revenues to Azerbaijan’s state budget

Photo: Non-oil sector provides over 50% of tax revenues to Azerbaijan’s state budget
 / Finance

Baku, Azerbaijan, July 9

By Zulfiya Gurbanova - Trend:

Azerbaijan's Taxes Ministry provided tax revenues worth 3.6 billion AZN to the state budget between January and June 2014, according to a message from the ministry.

The specific weight of earnings from profit tax were 32.9 percent of total tax revenues, while earnings from the value added tax were 28.3 percent, income tax - 12.8 percent, excise taxes - 10.4 percent, other taxes - 15.6 percent, according to the message.

Tax deduction from non-oil sector into the state budget amounted to 2.51 billion AZN, or 47.8 percent of total revenues.

Revenues from this sector increased by 15 percent compared to the same period of last year.

Some 7.1 billion AZN of tax deductions for 2014 have been forecasted for the ministry.

Some 42,681 taxpayers passed state registration in Azerbaijan in the first half of 2014. There are 574,935 taxpayers in Azerbaijan as of July 1, 2014.

The specific weight of tax declarations filed in electronic form, was 90.9 percent in January-June 2014.

The official exchange rate is 0.7844 AZN/USD as of July 9.

Edited by CN

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