Fiscal Bodies Cope with Nine-Month Plan

Baku / 09.10.17 / Turan: Over the first nine months of this year, the Ministry of Taxes transferred 5 billion 224.4 million manat to the state budget in the form of taxes and state duties, which is by 298.3 million manat or 6% higher than the indicator for the comparable period last year, the department said.

Customs officers also easily managed with the nine-month target. They increased the amount of collection of customs taxes and duties approximately, as much as tax authorities - AZN 297.9 million. In January-September, 1 billion 951.6 million manat was received from import-export operations to the state budget, 18% more than for the same period in 2016.

This year, 7 billion 645 million manat will be collected by the Ministry of Taxes and the State Customs Committee will collect 2 billion 250 million manat.

According to experts, there is a huge potential for increasing the growth of state budget revenues. For example, according to the estimates of the economist Gubad Ibadoglu, only in 2015 the amount of evasion from customs fees for the 10 main trading partners amounted to over 740 million US dollars or 1.3 billion manat. -----08B----