Azerbaijani non-oil sector to ensure up to 70% of tax revenues
Baku, Azerbaijan, Aug.12
By Azad Hasanli - Trend:
The Azerbaijani Taxes Ministry transferred tax payments in the amount of 4.1 billion manats to the state budget in Jan.-July 2015 versus 4.4 billion manats for the same period of 2014, the ministry's website said Aug.11.
The forecast on tax deduction was implemented by 101.9 percent.
Around 47,396 taxpayers passed state registration in Azerbaijan in January-July 2015.
In 2015, the Ministry of Taxes in Azerbaijan forecasts state budget revenues in the amount of 7.11 billion manats, or 36.6 percent of total revenues.
Some 4.81 billion manats, or 67.7 percent, will amount to revenues from the non-oil sector. Revenues from the oil sector are projected at 2.3 billion manats (with the weight of 32.3 percent of tax revenues).
Thus, 33 percent of a total volume of tax fees will account for the value added tax, income tax - 31 percent, income tax proceeds - 13.8 percent, excise taxes - 8 percent, other taxes - 14.2 percent, the report said.
The income of the state budget for 2015 for the ministry is set in the amount of 19.438 billion manats, expenses - 21.1 billion manats. Budget forecasts are formed at an oil price of $90 per barrel.