Amount of taxes and duties listed by the Ministry of Taxes of Azerbaijan to the state budget in January-April of this year amounted to 2 billion 513 million 825.7 thousand manats (+12.4% compared to the same period last year).
According to a press release from the Ministry, the line is not the oil and gas sector revenues amounted to 1 billion 224 million 932.2 thousand manats (9.9% or 48.7% of revenues).
Value-added tax brought into the state treasury 20.2% of revenues through the Ministry, income tax - 47.6%, income tax - 10.3%, excise duties - 7%, other income - other species.
Recall, the President approved the annual tax revenues in the state budget as 6.4 billion manat. The current rate includes excess of the fulfillment of the limit by 11-12%. - 17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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