On 15 November, Milli Majlis [Azerbaijani Parliament] completed discussions on legislative acts linked with the project of the 2007 State budget. Changes and annexes were made to the law On budget system, Trend reports. Should the expenditure section of the budget for the year not be spent, the balance will be transferred to the State Oil Fund of Azerbaijan. Another innovation was that according to the decision of the relevant body of the executive power, the finances intended in the state budget for certain purposes may be directed towards other areas.
Changes were made to the Regulation On service in state tax bodies. Debates were also organized on the changes to the laws On state duties and On country entry-exit and passport. The Parliament Deputies did not agree with the proposal to double the state duty for issuance of citizenship passports. By the same token, the proposal to extend the validity of passports from 5 to 10 years was unanimously agreed upon. The changes to the Law On culture envisage budget financing of the cultural facilities.
The parliamentarians made a decision to extend the validity of the Law On determination of privileges for profit tax withholding with interests for deposits to banks and other credit organizations, as well as with dividends and interests of investment securities to 2020.
The expenditure estimate of Milli Majlis for 2007 was confirmed at AZN 14,551 mln and the Accounting Chamber at AZN 1,8 mln.
At the conclusion of the session, the Speaker, Oktay Asadov, stated that the 2007 State budget documents will be considered by the Government and presented for discussion at Milli Majlis once again.