Azerbaijan, Baku, Oct. 6 / Trend /
The Azerbaijani Taxes Ministry constantly implements necessary measures to determine existing tax capacity and increase tax revenues, the acting head of the central administrative organization of state registration of commercial entities and economic analysis at the Azerbaijani Taxes Ministry, Rauf Namazov, said.
"A far-sighted oil and gas strategy and economic policy is being pursued by the country's leadership, which ensures the development of the non-oil sector, and allows for the diversification and liberalization of our economy under the continuing worldwide economic crisis," Namazov said.
The comprehensive development of Azerbaijan's regions, broad support for entrepreneurship and promotion of the development of the non-oil sector has led to the formation of a stable national economy, which has created favorable conditions for its growth, he added.
Namazov said the 2011 draft budget provides for the reduction of the dependence of Azerbaijan's economy on oil and gas sector.
"In 2011, the volume of tax revenues from the oil sector is expected to increase by 240 million manat or 9.6 percent compared as against forecasts for 2010," Namazov said.
In addition, tax revenues from the oil sector, projected for 2011, are more by 559.4 million manat, or by 25.7 percent compared to the actual income for 2009.
"I would like to particularly note that a 9.6-percent increase in revenues for this sector is projected on the background of 7.2-percent growth in non-oil GDP," Namazov added.
Namazov said the decline forecast in the 2011draft budget in a number of taxes, particularly income tax, is not linked with a decrease in business activity and the activity of entrepreneurs, but with the writing off of some public debt by the state.
"Tax deductions in the non-oil sector are expected to increase in next year's budget, which will reduce the dependence of the republic's economy on oil and this should be seen as an indicator of the dynamic development of private, especially the non-oil sector," Namazov said.