Azerbaijan, Baku, 21 April /corr. Trend I.Khalilova / In the first quarter, Azerbaijan's Ministry of Taxes fulfilled the forecasts on tax collection at 108.1%, the Ministry said.
AZN 1,283.6mln was transferred to the Public budget against projected AZN 1,187mln. The tax transfers to the treasury increased by 63.6% (AZN 499mln) as compared to the last year.
The 2008 forecasts on tax collection totals AZN 5bln. However, like previous years the Government intends to re-consider the budget forecasts. Therefore, the forecasts for the Ministry of Taxes will also increase. Additional incomes will be ensured at the expense of expansion of taxable base, appearance of new tax payers. As a result of measures decreasing the leading role of oil sector in the Country's economy and directing oil revenues towards development of the non-oil sector, the economic intensity has appeared in this sphere. It is testified by the growth of incomes in this sector. Without considering incomes from the companies working with oil consortiums, the tax transfers from the non-oil sector have increased by 75.9%.
Last year, the forecasts on tax collections were made with 61.7% growth. As a result of rapid economic development, the factual tax transfers were AZN 1.834bln more than transfers in 2006. As a result of 2007, the Ministry of Taxes ensured 75.2% of budget incomes, transferring AZN 4.548mln to the Public budget.
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