Azerbaijan’s non-oil sector tax revenue forecast over-fulfilled
Baku, Azerbaijan, Oct. 4
By Azad Hasanli – Trend:
The forecast on the Azerbaijani state budget’s tax revenue for the first nine months of 2016 has been completely fulfilled, the country’s Deputy Taxes Minister Ilkin Valiyev told reporters in Baku Oct. 4.
As of October 1, 2016, the total amount of tax proceeds to Azerbaijan’s state budget through the Ministry of Taxes amounted to 4.9 billion manats.
In comparison with January-September 2015, the tax revenues increased by 365 million manats.
The minister added that the revenue forecast on the non-oil sector of Azerbaijan was over-fulfilled by almost 64 million manats.
In total, the revenues from the non-oil sector in the first three quarters of 2016 exceeded 3.8 billion manats, he noted.
Revenues from Azerbaijan’s Taxes Ministry to the state budget are expected in the amount of 7.01 billion manats or 41.7 percent of total budget revenues in 2016.
Revenues of Azerbaijan’s state budget were approved in the amount of 16.822 billion manats, and expenses were approved in the amount of 18.495 billion manats for 2016. Budget forecasts were formed on the basis of oil prices at $25 a barrel.