Baku, Azerbaijan, June 22
By Ilkin Shafiyev - Trend:
The introduction of state duty for obtaining excise stamps for marking alcoholic beverages and tobacco products imported to Azerbaijan is aimed at protecting domestic production, Finance Minister Samir Sharifov said June 22 during the discussion of the draft amendments to the state budget for 2018 at a meeting of the Parliamentary Committee on Economic Policy, Industry and Entrepreneurship.
"Today, there are enough producers of both tobacco and alcohol products in Azerbaijan. And the state provides support to entrepreneurs, and they are provided with subsidies and benefits. We must protect local producers. The proposed changes [to the law "on state duty"] are aimed at this, in addition, this step will also help to increase revenues to the state budget", said Sharifov.
Revenues to the state budget of Azerbaijan from duties in 2018 will grow by 26.8 percent or by 30 million manats, to 142 million manats, reads the draft amendments to the law "on the state budget for 2018".
It is planned to increase the forecasts for this category of revenues by introducing a state duty on acquisition of an excise stamp for marking imported alcoholic beverages and tobacco products, fees for registration of mobile devices imported by individuals for personal use, as well as fees for registration of contracts on expropriation of cars.
In particular, according to the amendments to the law "on state duty", it is planned to introduce a duty in the amount of 0.06 manats for acquisition of an excise stamp for alcohol products and 0.05 manats for acquisition of an excise stamp for tobacco products.
Regarding the fees for the registration of imported mobile devices and contracts for the expropriation of vehicles, according to the amendments, the amount of duty for them will be determined annually by the relevant executive authority.
In general, according to the adjusted budget forecasts, the revenues are planned to increase by 1.983 billion manats (9.9 percent) - to 22.11 billion manats, and expenditures - by 2.014 billion manats (9.6 percent) - to 23.061 billion manats. The state budget deficit will amount to 951 million manats (an increase of 31 million manats), which will account for 1.3 percent of Azerbaijan's GDP expected in 2018.
Additional funds will be used to increase spending on defense, social protection, energy, agriculture and other spheres.
The official exchange rate as of June 22 is 1.7 AZN / USD.