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 has initiated the creation of the Trans-Caspian Customs Transit Portal, an ambitious project aimed at simplifying and accelerating customs procedures for goods transiting through regional countries. The portal, which facilitates faster goods clearance through pre-processing of data and streamlined formalities, is seen as a key step toward enhancing trade efficiency in the Caspian region.
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Azerbaijani President Ilham Aliyev hosted Jenny Johnson, CEO and President of Franklin Templeton, one of the world's leading asset management firms, to explore avenues for strategic cooperation.
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Azerbaijan produced 28,394.1 million kilowatt-hours (kWh) of electricity in 2024, according to operational data released by the Ministry of Energy.
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The 10th meeting of customs heads from the Organization of Turkic States (OTS) commenced in Baku on Tuesday, bringing together senior officials from Azerbaijan, Turkey, Kazakhstan, Uzbekistan, and Kyrgyzstan. Representatives from the United Nations, the International Road Transport Union (IRU), and the customs authorities of Georgia and Hungary also participated.
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