In May of this year the State Customs Committee transferred 206.2 million manat to the state budget, which is 21.1 million manat less than in April, when a record index was achieved for the whole history of this department’s activities.
According to the State Customs Committee’s information, in the first five months in 2016 they collected 850,500,000 manats, which is 36% higher than in the comparable period last year.
This year, the SCC plan to transfer customs duties and taxes (1 billion 810 million AZN) to the state budget has increased by 13.8%.
Despite the decline in the volume of imports of goods, the customs officials cope with the plan. Firstly, this is due to the devaluation of the manat, and secondly, due to the elimination of monopoly on the importation of goods from this year on and declaring goods not at lowered prices, but at prices specified in the contracts. --- 08B
Economics
-
The new law on "Political Parties," adopted two years ago, came into effect early last year and has been criticized by the Venice Commission, is already making its impact felt. On December 4, the activities of two political parties—the Freedom Party and the Party of Free Democrats—were halted through court orders. The Ministry of Justice cited discrepancies in the documentation of these parties as the reason for its appeal to the court.
-
In the first ten months of 2024, Baku's trade turnover registered a 4.4% increase compared to the same period last year, reaching a substantial 28.2 billion manat, according to the Baku City Statistics Department.
-
In a significant move to bolster its financial capabilities, Azerbaijan's state-owned energy company SOCAR has signed an agreement with Italy's Intesa Sanpaolo bank. The pact, which underscores growing cooperation between the two entities, marks a step forward in securing financial resources for SOCAR's ambitious projects, including its ventures in green energy.
-
In the first 11 months of 2024, Azerbaijan experienced a robust recovery in its tourism sector, with 2.41 million foreign and stateless individuals visiting the country, marking a 27.4% increase compared to the same period last year, according to the State Border Service. This growth reflects Azerbaijan’s increasing appeal as a travel destination, bolstered by diversification in source markets and improved transport infrastructure.
Leave a review