In the first nine months of this year the Ministry of Taxes missed the state budget 252.5 million. By the end of the year, according to government forecasts, drawback of taxes could fall to 100 million manats.
According to the Ministry of Taxes, in January-September 2015 the Ministry raised 5 billion 94.2 million manats, 4.8% less than in the comparable period of 2014. Thus from the beginning of the year the taxable base grew by 58,473 taxpayers.
Unlike last year, the Ministry of Taxes does not provide information on tax receipts from non-oil and gas sector.
It should be noted that this year the forecast tax revenues due to the fall in world oil prices decreased from 7 billion 112 million manats to 7 billion 12 million manats. And next year the Ministry of Taxes will bring 6.6 billion manats. The government expects that 72.9% of tax revenues will fall on the share of non-oil-gas sector. ----08B
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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