Current Role of Oil Sector in Azerbaijan’s Budget - Analysis

In the first half of 2016, the taxes in the state budget from the non-oil sector amounted to 2 billion 494.4 million AZN. This is +9.4% in comparison with the same period last year. This statement was made by the Minister of Taxes Fazil Mammadov. According to him, in the first half of 2016 the Ministry of Taxes in total transferred to the state budget 3 billion 190.1 million AZN, 2% more than the plan.

As Turan notes, in January-June 2015 the Ministry of Taxes transferred to the budget 3 billion 346 million AZN. That is, for the first quarter of this year, remittances to the budget decreased by 4.7%.

It should be noted that during the period the oil sector transferred 694.7 million AZN to the state budget through the Ministry of Taxes. During this period, the share of tax revenues from the oil sector accounted for 21.8%. An interesting fact is that in January-June 2015 the oil sector transferred 1 billion 57 million AZN to the state budget through the Ministry of Taxes. It turns out that in the first half of this year, payments to the budget decreased by 34.4%.