In January-August 2013 the state budget under the Ministry of Taxes received taxes, fines, financial penalties and state taxes totaling 4,486,600,000 manats. This is a 7.3% increase over the comparable period in 2012. Turan was told by the ministry.
Payments by the subjects of non-oil sector during this period of the year amounted to 2,405,061,230 AZN or 53.6 % of revenues. At the same time, tax and other revenues from non-oil sector over the same period last year increased by about 213 million or 9.7%. Compared to last year, the share of non-oil sector in the structure of tax payments increased 1.2%.
The share of profit tax was 38.6 % (in 2012 - 39.7 %), VAT - 24% ( 22.8 %) , personal income tax on individuals - 12% ( 12.4 %) , excise tax - 7 6% (7.5% ), etc. - 08D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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