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Private sector's weight in tax revenues reaches 72.9 percent

Business Materials 13 July 2011 14:36
The specific weight of the private sector in tax revenues in Azerbaijan reached 72.9 percent in the first half of 2011, Taxes Minister Fazil Mammadov said at a meeting of the Cabinet of Ministers dedicated to the socio-economic development in the first half of 2011 and chaired by President Ilham Aliyev, the official press reported.
Private sector's weight in tax revenues reaches 72.9 percent

Azerbaijan, Baku, July 13 / Trend A.Akhundov /

The specific weight of the private sector in tax revenues in Azerbaijan reached 72.9 percent in the first half of 2011, Taxes Minister Fazil Mammadov said at a meeting of the Cabinet of Ministers dedicated to the socio-economic development in the first half of 2011 and chaired by President Ilham Aliyev, the official press reported.

"The report period was characterized by the establishment if stable economic relations forging in the private sector," Mammadov said.

He said the number of registered objects increased by 58.2 percent compared to the same period of 2010.

"There was ensured the registration of more than 2,000 taxpayers and 2,126 businesses evading tax accounting," Mammadov said.

He added that over 32,500 businesses were registered through the "single-window" system in the first of 2011. More than half were in the regions.

Mammadov said the growth of the registered wages amounted to approximately 300 million manat compared to the same period of 2010.

"Transfers from the income tax for that salary increased by 40 million manat," Mammadov said.

The official exchange rate is 0.7965 manat to $1 on July 13.

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