In the first quarter of this year the State Customs Committee collected 341 million 945 thousand manat in the form of official duties and taxes, which is 3.5% more than in the same period in 2014.
According to SCC, in March they transferred 132.4 million manat to the state budget, 1% less than in March last year. For the first time since July 2014 the customs approached to the mark of 47 million manat in terms of customs duties collected. In February, for this type of customs duties they collected about 15 million manat.
Note that this year it is projected to provide 1 billion 590 million manat to the state budget through SCC.
Independent local and international experts and organizations indicate a high level of corruption in the Azerbaijan customs. Business people argue that no product or item can be imported into the country without the consent of its informal monopoly. Part of the funds fills the pockets of high-ranking officials in SCC, which is partially divided down the pyramid in the form of informal "envelopes" with wage supplements. ----08B
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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