Tax, customs duties ensure half of state budget revenues in Azerbaijan since early 2014
Baku, Azerbaijan, May 6
By Emin Aliyev - Trend:
The actual revenues to the Azerbaijani state budget totaled 4.482.5 billion manats (34.1 percent of GDP) in January-March 2014 or 4 percent less compared to the same period of 2013, the government told Trend on May 5.
The state budget expenditures decreased by 3.1 percent and amounted to 4.374.3 billion manats (33.3 percent of GDP). The budget surplus for January-March 2014 amounted to 49.5 million manats or 0.6 percent of GDP. It hit 154.6 million manats in January-March 2014.
Some 39.3 percent (1.762.9 billion manats) in the structure of revenues were ensured by the Ministry of Taxes. The revenues from customs duties and taxes totaled 330.4 million manats (with a weight of 7.4 percent), from other sources - 2.389.2 billion manats (53.3 percent). The tax collections increased by 15.7 percent, customs charges - by 14.1 percent, however, the revenues from other sources decreased by 16.4 percent compared to January-March 2013.
During the reporting period, some 719.5 million manats were transferred to the state budget from the collection of VAT tax, which is 16.1 percent of total income. The revenues on profit taxes totaled 556 million manats (12.4 percent), income tax - 227.3 million manats ( 5.1 percent), excise tax - 224.5 million manats (5 percent), property tax - 34.9 million manats (0.8 percent), land tax - 11.3 million manats (0.3 percent), tax on mineral resources - 31.6 million manats (0.7 percent), taxes on foreign economic activity - 167.8 million manats (3.7 percent).
Some 518.5 million manats (with a weight of 11.8 percent) from the budget were spent for social security and protection of the population, 274.1 million manats (6.3 percent) - for education, 110.7 million manats (2.5 percent) - health care, 206.7 million manats (4.7 percent) - maintenance of the prosecution, security, law enforcement, judicial bodies, 2.343 billion manats (53.6 percent) - investments in the economy in January-March 2014.
Around 21.2 percent (925.2 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 0,7843 AZN/USD on May 6.
Translated by NH
Edited by CN