According to the planned obligations, the State Customs Committee in December should provide transfer to the state budget of 198 million 899 thousand AZN on foreign trade operations. This amount of customs duries has never oc curred at the monthly basis.
According to the SCC, in November of this year the volume of funds transferred to the state budget by the participants of foreign trade operations, import duties and taxes, amounted to 132.6 million AZN, which is 1.7 million AZN less than in October.
In the first 11 months of this year the volume of collected customs duties and taxes amounted to 1 billion 391.1 million AZN, 0.9% more than in the comparable period of 2014.
In the state budget for 2015 the plan forecast of customs duties and taxes was increased by 80 million AZN and approved at the level of 1 billion 590 million AZN.
Experts point out that the monopoly on the import of many consumer goods into Azerbaijan is supported at the management level of the SCC, which has backers in high places. Corruption in this fiscal agency affects the total collection of customs taxes and liberalization of the economy in difficult times, when incomes from oil exports are greatly reduced. 08D
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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