Within 11 months of this year, the Ministry of Taxes provided the government a revenue totaling 6 billion 245.4 million manat, which is 10.8 % more than during the comparable period in 2012. The growth rate of tax collection from non-oil sector (12.8%) was ahead of the general tempo.
According to the Ministry of Taxes, the share of non-oil sector accounts for 54.5% (3.4 billion manat) of tax revenues. For the comparable period last year, the figure was 53.6 %.
Note that in the structure of tax the share of profit tax for the reporting period of this year reached 37.9% ( 2012 - 38.6 %), VAT - 24.7% (23.7%) , income tax on individuals - 12% (13,1 % ), etc.
In Azerbaijan mainly taxpayers complain about frequent tax audits, which end in fabulous bribes.
On the illegal actions of the tax authorities recently wrote the Turkish press. However, entrepreneurs are afraid to speak out, as this may result in serious consequences for them. - 08D-
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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