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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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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The Supreme Eurasian Economic Council of the Eurasian Economic Union (EAEU) convened today, December 26, 2024, at a summit highlighting the evolving dynamics of regional cooperation and the complex interplay of geopolitical interests among EAEU member states. The meeting, held in Saint Petersburg, brought together the leaders of the EAEU countries to discuss a robust agenda that could shape the bloc's trajectory in 2025 and beyond.
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The Union of Chambers of Commerce and Industry (UCCI) of the Organization of Turkic States (OTS) held its General Assembly in Baku on December 26, highlighting dynamic economic growth and deepening integration among member states. Representing Azerbaijan and other OTS member states, business and government leaders discussed trade, investments, and regional connectivity projects.
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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