Azerbaijan to Receive 88% of Tax Revenue through Tax Service in 2008

Business Materials 25 February 2008 17:34 (UTC +04:00)

Azerbaijan, Baku, 25 February / Trend corr I. Khalilova / The forecast for the Department for Tax Services with Special Regime at the Azerbaijani Taxes Ministry for 2008 has increased by 41.3%; from AZN 3.820bln to AZN 4.384bln, the head of the Department Sahir Mammadkhanov said.

AZN 5bln of taxes is expected to be received through the Ministry this year. The tax assignments of the State Oil Company of Azerbaijan Republic (SOCAR) are expected to comprise AZN 1.35bln.

In January, the forecast was fulfilled by 105% which according to Mammadkhanov, these overload took place both in oil and non-oil sector.

The Department serves some 600 taxpayers, with 210 companies owned by the State, 250 companies with special systems and the rest being industrial and construction enterprises, as well as diplomatic missions.

Additionally AZN 100mln was transferred to the public budget by major taxpayers, except SOCAR. The tax payments of the Azerenerji, Azerigaz, Azerbaijan State Railway, State Concern AZAL, Azerbaijan State Caspian Sea Shipping Company , Baku Metro, Azerkimya, Azersu, and the Communications Ministry exceeded AZN 230mln.

SOCAR's tax assignments totalled AZN 1.15bln (including income tax).