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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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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