In November of this year from the State Customs Committee, it was transferred to the state budget of 104.2 million manat.
In SCC they told Turan that in 11 months of 2012 the collection of taxes and fees provided for a total of 1,092 million manat. This year it is projected to collect only 1.2 bn. The bulk of the charges are formed by VAT.
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.
However, as we know from media publications, the customs with importing goods seized illegal fees, which are much higher than the official charges. In addition, certain persons established a monopoly on the import of goods.
Azerbaijan since the mid 1990 has been in talks to join the World Trade Organization. Yet to be determined is even the approximate date of accession to this organization, as evidenced by the statement of President Ilham Aliyev during his September visit to France. The reason is related to the duration of the negotiations on "internal problems." The president defended the status quo with government's desire to support the local industry and agriculture. But local experts say that in reality the situation is that business is on its knees. And in fact, the process has stalled because of bureaucratic resistance of the oligarchy that controls both the local industry, and that controls the importation of essential commodities. - 08D-
Economics
-
Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
-
Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
-
Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
-
In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
Leave a review