Within four months of this year, the Ministry of Taxes provided the state budget with taxes and government fees totaling 2 billion 650.4 million manat, which is 5.4 % more than the figure for the comparable period of 2013. In the context of high shadow economy does not enjoy tax by all lawful means to increase tax collection to the state budget.
From the beginning of the year, from the non-oil sector the state budget received 1 billion 411.9 million manat in the form of taxes and duties. In addition, compared with the first four months of last year tax deductions from non-oil sector grew by 15.2%.
Entrepreneurs say that in addition to the Tax Code payments, they are required to pay up to 6 % of annual turnover. At the same time, to which account the money goes, they do not know.
This year, the Tax Ministry is to provide transfer of 7.1 billion to the state budget, of which 4.3 bn or 60.5% will be borne by the non-oil sector. Last year, in terms of 6.4 billion manat, the ministry collected 6 billion 664 million manats (+4.1%). -08D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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