Azerbaijan, Baku, Nov. 28 / Trend I.Khalilova/
The global economic crisis has not led to an increase in tax rates in Azerbaijan, which was the main economic tool in many countries worldwide.
"The world's main economic tool to increase revenue during the global financial crisis and economic stagnation is increase of tax rates, while Azerbaijan has a policy of reducing the tax burden," Taxes Minister Fazil Mammadov said.
If tax burden was 33.4 percent in Belarus, 25 percent in Kazakhstan, 23.9 percent in Armenia in 2010, this figure in Azerbaijan was 21.5 percent taking into account tax credits and social security contributions for 10 months of 2011.
"The non-oil sector is developed along with the oil and gas sector in order to reduce economic risk and ensure the effectiveness of economic diversification policy. As a result, next year's tax revenue from the oil sector, compared to a forecast for 2011, will increase by 11 6 percent, or 330 million manat on the background of the non-oil GDP growth of 8.6 percent," Mammadov said.
According to Mammadov, the share of tax revenues from the oil sector in the total deductions will increase to 59.9 percent in 2012 compared to 54.9 percent in 2010 and 55.2 percent in 2011. "It can be described as a positive fact in the direction of minimizing the oil factor in the economy," Mamedov said.
Projected growth of 330 million manat in non-oil sector will be provided from the income tax proceeds in the amount of 151.4 million manat, VAT in the amount of 67.9 million manat, income tax and other deductions in the amount of 110.7 million manat.
According to macroeconomic forecasts, it is planned to avoid reducing the share of tax revenues from the non-oil sector in GDP in the future.
"In order to develop infrastructure in the regions and for qualitative performance measures in the frame of the state program on socio-economic development in the 2009-2013, tax revenues transferred from taxpayers operating in the regions, are supposed to refer as the local revenue," Mammadov said.
Income from the Ministry of Taxes in 2012 is forecasted at 5.310 billion manat or 32.3 percent of total budget revenues. Tax revenues from the oil sector are expected to be 3.180 billion manat. The share of income from the Ministry of Taxes in the general budget revenues, excluding transfers to the budget from the State Oil Fund, will increase up 5.3 percentage points compared to 2009, and 3.1 percent compared to 2010 to 81.3 percent.
Official exchange rate for Nov 28 is 0.7865 AZN / USD.