Azerbaijan approves tax and duty transfer schedule

Business Materials 20 July 2010 10:12 (UTC +04:00)

Azerbaijan, Baku, July 20 / Trend I.Khalilova /

The Azerbaijani finance and tax ministries agreed on a schedule of tax and duty transfers to the state budget in the third and fourth quarters this year after recent amendments to the state budget forecasts for 2010. The Tax Ministry reported that forecasts on tax revenues now reach 4.47 billion compared to the 3.980 billion manat forecast earlier.

Based the schedule, tax and duty revenues are expected to reach 1.221 billion manat in the third quarter, including 562.033 million in July, 311.283 million in August and 347.933 million manat in September. Tax and duty revenues are expected to reach 1.3608 billion manat in the fourth quarter, including 310.033 million manat in November and 471.633 million manat in December.

Based on the amendments, budget revenues increased by 1.49 billion manat to 11.505 billion and budget expenditures increased by 1.12 billion manat to 12.275 billion manat. Centralized revenue was approved at a level of 11.0728 billion manat, local revenue at 432.196 million manat, centralized expenses at 11.081 billion manat and local expenses at 1.194 billion manat.

The budget deficit was reduced from 1,249 billion to 770.3 million manat.

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