The Ministry of Taxes in the first two months of this year provided 1 119.5 million manat, which is 6.8% more than in the same period of 2012. The share of non-oil sector accounted for 49.8% of tax revenues.
The Ministry of Taxes told Turan, that in January and February of this year, the non-oil sector provided payments to the state budget for a total of 554.1 million manats. This is 17 million or 3% less than the same period of 2012.
The share of profit tax in the structure of tax revenues reached 41.3%, an increase of 1.7%. By 2.5% decreased revenue from VAT (24%). Despite the changes in the scale of tax payments from the income of individuals, on this tax no change (11.4% of the tax revenues).
In 2012, the tax authorities must ensure that the state budget 6.4 billion manat. - 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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