In 2013, the Ministry of Taxes will contribute 6.4 billion manat to Azerbaijan's state budget, which is 8.2% higher than forecast for the current year (5.91 billion manat). The share of the Ministry of Taxes in the income of the state budget for next year will amount to 33.4%.
According to the draft state budget for 2013, it will mainly receive profit tax (2,279 mln), VAT (AZN 1,776 mln) and income tax (783 million manat).
The share of non-oil sector will be 58.8% (3,760 mln) of tax revenue. It is expected that in 2013, revenues of the state budget through the Ministry of Taxes will increase by 480 million manats (14.6%).
In the next financial year, companies headquartered in the capital are to pay taxes (other than income tax) to local governments. As a result, it is expected that in addition to Sumgait and Absheron the city of Shirvan will repay its expenses of the budget.
Total 2013 revenues of local budgets (except the budget of Baku) will amount to more than 500 million manats, AZN 100 million exceeds the figure for the current year. - 08D-
Economics
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The State Oil Company of Azerbaijan (SOCAR) and Italy's Eni S.p.A. have signed a Memorandum of Understanding (MoU) focused on energy transition. Azerbaijani Economy Minister Mikail Jabbarov announced the agreement on his account on the social network "X".
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Azerbaijani Economy Minister Mikail Jabbarov met on July 29 with Ali Kibar, Chairman of Turkish conglomerate Kibar Holding, to discuss strengthening bilateral cooperation, boosting investment in industrial production, and supporting partnerships in the energy sector.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved the application form specified in Article 30.1 of the Competition Code. This decision aims to align with the President’s decree No. 1051-VIQ dated December 2, 2023, and address regulatory requirements related to the implementation of the Competition Code.
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Azerbaijani President Ilham Aliyev has issued a decree amending the Land Code of the Republic of Azerbaijan, effective January 2025. The legislative adjustments aim to refine the management and use of agricultural land and enhance regulatory processes.
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