In October of this year the State Customs Committee (SCC) transferred AZN 107 mln to the state budget. Over the past four months the customs stabilized the collection of customs duties and taxes at the level of AZN 107 million - in such a pace they can perform the annual plan.
In SCC they told Turan that for ten months of 2012 they collected taxes and fees for a total of 987.8 million manats. This year it is projected to collect 1.2 bn. Summary of the fees account for the VAT. In October, its share in the customs duties was 85%.
In 2011, the SCC contribution to the state budget amounted to 1,141 mln. Next year, according to the draft of the state budget, the SCC will collect 1,380 mln. -08b-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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