Customs Set New Fiscal Record

Baku / 12.09.17 / Turan: In August of this year, the State Customs Committee (SCC) provided transfer of 280.1 million manat to the state budget. As analysis of past years shows, this is the highest index for import-export operations.

In August 2016, the SCC collected 244 million manat of customs taxes and duties. And the previous fiscal record was established in July this year - 256.6 million manat.

As of September 1, subjects of foreign trade operations transferred over 1.7 billion manat to the state budget, 19.7% more than for the comparable period of 2016.

The economist Samir Aliyev believes the main reason for the growth of customs revenues in the state budget is improvement of the customs registration of imported goods. In his opinion, the growth of these revenues was noted mainly at the expense of customs duties and VAT on imported goods. For other types of taxes (excise and road tax), a decrease was recorded.

"Since 2016, there has been a simplification of import customs procedures and a more accurate accounting of goods delivered to the country. It is no secret that in previous years, part of the goods imported into the country did not pass through customs checkpoints and proper registration. Another factor that has caused the growth of customs duties is the introduction of import duties for certain commodity items from the last quarter of 2016 for a period of 2 years. In the same year, the government introduced export duties on a number of goods," the economist said.

In 2017, according to the state budget, it is planned to collect AZN 2 billion 300 million through the SCC, AZN 100 million more than in the previous year. -----08B