Azerbaijani private sector provides more than 70 per cent of tax revenues

Azerbaijan, Baku, Sept 12 /Trend/

In January-August 2012, the tax revenues to the state budget of Azerbaijan totalled 4.18 billion manat (compared to forecasted 3.8 million manat), which is 13.6 per cent higher than the fees for the same period last year, the Ministry of Taxes said.

'Some 52.4 per cent or about 2.2 million manat of tax revenue was achieved through non-oil sector and about two million manat (47.6 per cent) in the oil sector', the statement said. Some 73.3 per cent (about three million manat) of income was provided by the private sector.

Tax revenue through local tax offices totalled 302.1 million manat during the eight months compared to 273.1 million manat. Accordingly, the forecast for the collection of taxes by these controls was performed at 110.6 per cent. The actual income for this line increased by 11.2 per cent, or 30.4 million manat compared to the same period last year.

The ministry noted the increase in the income of different types of taxes in total tax collections due to the creation of new jobs and increased tax control over the conclusion of labour contracts.

VAT revenues totalled 952.8 million manat, with the weight of total tax collections as being 22.8 per cent compared to the forecasted 942 million manat, excise tax - 313.3 million manat (7.5 per cent) compared to the forecasted 296 million manat income tax - 1 473.7 million (39.7 per cent) compared to the forecasted 1 473.7 million manat and on income tax - 520.1 million (12.4 per cent) compared to 477.4 million manat.

This year, the deduction of VAT through local tax offices was 99.6 million (33 per cent of total revenue in the controls), excise taxes - 1.1 million (0.4 per cent), income taxes - 18.4 million manat (6.1 per cent) and profits taxes - 81.4 million (27 per cent).

Official exchange rate on Sept 12 is 0.7852 AZN/USD

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