In August of this year, Customs Service of Azerbaijan generated revenue to the state budget in the form of taxes and fees totaling 123 790 500 manats. This is 366,000 manat or 0.3 % less than in July. Since the beginning of the year by the State Customs Committee ( SCC) transferred to the state budget of 887.8 million manat, which is 14.8 % ( 114.7 million manat) higher than in the first eight months of 2012 .
According to the SCC, the bulk of revenues (71.3 %) accounted for the value added tax (633.3 million manat). Compared to the same period in 2012, on this type of customs duties the taxes rose by about 22%. But the Customs fees amounted to 189.5 million manat, which is 6.5 million or 3.3 % less than in January- August last year.
This year, the forecast taxes to the state budget through the SCC increased from 1.2 billion to 1 billion 380 million manats. - 08D-
Economics
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The World Bank is in the final stages of drafting a new Partnership Framework Program (RFP) with Azerbaijan, set to cover the period from 2025 to 2029. This strategic development was revealed during a meeting between Azerbaijani Prime Minister Ali Asadov and Ines Rocha, Regional Director of the International Finance Corporation (IFC), a member of the World Bank Group. The framework is expected to be finalized and approved by the Executive Board of the World Bank in late October 2024, with key priorities focusing on public-private partnerships, sustainable development, and investment projects aimed at economic diversification.
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September 5, during the working visit of Azerbaijan's President to Italy. The event, supported by Italy's Ministry of Enterprises and "Made in Italy," Azerbaijan's Ministry of Economy, the Azerbaijan Export and Investment Promotion Agency (AZPROMO), and Italy's leading industrial association Confindustria, brought together officials and business leaders to explore economic cooperation beyond the energy sector.
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The Cabinet of Ministers of Azerbaijan approved new rules for the transportation of goods by rail on September 3, aimed at enhancing the efficiency of freight transport across the country’s railway network. The decision is part of a 2015 presidential decree designed to improve the operations of the state-owned Closed Joint-Stock Company “Azerbaijan Railways.”
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On September 3, the Cabinet of Ministers of Azerbaijan approved a new list of fixed assets that are the subject of leasing contracts and exempt from value-added tax (VAT) on imports, in accordance with recent amendments to the country's Tax Code.
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