Azerbaijan's 2018-state budget may be revised

Business Materials 15 March 2018 14:42 (UTC +04:00)

Baku, Azerbaijan, March 15

By Ilkin Shafiyev - Trend:

The 2018 state-budget of Azerbaijan may be revised, Chairman of the Parliamentary Committee on economic policy, industry and entrepreneurship Ziyad Samedzade said during presentation of the movable property register on March 15.

He said that this may happen after summarizing the first quarter of 2018.

Revenue part of the state budget for 2018 is forecast to total 20.127 billion Azerbaijani manats (including centralized revenues in the amount of 19.473 billion manats, local revenues in the amount of 653.353 million manats), while expenditures are expected to amount to 21.047 billion manats (including centralized expenditures in the amount of 20.323 billion manats, local expenditures in the amount of 723.925 million manats).

Transfers from the State Oil Fund (SOFAZ) to the state budget account for 9.216 billion manats. Revenues from the value added tax (VAT) are forecast to total 4.288 billion manats (including 1.705 billion manats on VAT from goods imported by the country), revenues from income tax – 2.320 billion manats, revenues from personal income tax – 1.196 billion manats, excise tax – 726 million manats (including 172 million manats from excises on goods import), customs duties – 535 million manats, simplified tax – 380 million manats, tax on production – 136 million manats, road tax – 91 million manats.

Transfers from non-budgetary revenues of the budget organizations are projected at the level of 460 million manats.

(1 USD = 1.7 AZN on March 15)