Tax and customs duties ensure 46% of state budget revenues in Azerbaijan since early 2014

Business Materials 7 April 2014 19:27 (UTC +04:00)

Baku, Azerbaijan, April 7
By Emin Aliyev - Trend:

The actual revenues to the Azerbaijani state budget totaled 3.112.1 billion manat (36.8 percent of GDP) in January-February 2014 or 2.8 percent less compared to the same period of last year, the government told Trend on April 7.

The state budget expenditures increased by 5.8 percent and amounted to 3.062.6 billion manat (36.2 percent of GDP). The budget surplus for January-February 2014 amounted to 49.5 million manat or 0.6 percent of GDP. It greatly decreased (308.9 million manat) compared to the same period of 2013.

Some 39.6 percent (1.233.6 billion manat) in the structure of revenues were ensured by the Ministry of Taxes. The revenues from customs duties and taxes totaled 196.6 million manat (with a weight of 6.3 percent), from other sources - 1.681.9 billion manat (54 percent). The tax collections increased by 10.2 percent, customs charges - by 9.5 percent, however, the revenues from other sources decreased by 11.6 percent compared to January-February 2013.

During the reporting period, some 469.9 million manat were transferred to the state budget from the collection of VAT tax, which is 15.1 percent of total income. The revenues on profit taxes totaled 436.6 million manat (14 percent), income tax - 143.7 million manat ( 4.6 percent), excise tax - 148.7 million manat (4.8 percent), property tax - 20.7 million manat (0.7 percent), land tax - 7.1 million manat (0.2 percent), tax on mineral resources - 21.1 million manat (0.7 percent), taxes on foreign economic activity - 95.6 million manat (3.1 percent).

Some 370.7 million manat (with a weight of 12.1 percent) from the budget were spent for social security and protection of the population, 150.4 million manat (4.9 percent) - for education, 59 million manat (1.9 percent) - health care, 126.5 million manat (4.1 percent) - maintenance of the prosecution, security, law enforcement, judicial bodies, 1.888.7 billion manat (61.7 percent) - investments in the economy in January-February 2014.

Around 19.3 percent (591.2 million manat) of public expenditure were spent on payment of salaries, pensions and benefits.

The state budget revenues for 2014 are planned to hit 18.384 billion manat, while expenses - at the level of 20.063 billion manat.

The official exchange rate is 0.7844 AZN/USD on April 7.