In the two months of this year the Ministry of Taxes collected 1 billion 101.5 million manats of taxes and state duties. The Analytical Information Department of Ministry informs that the forecast was implemented by 101.3%.
Note that according to the same source, over the first two months of 2015 the Ministry of Taxes collected 1 billion 104.7 million manats. Thus, on an annualized basis the shortfall amounted to 3.2 million manats.
The Taxes Ministry unlike previous times did not provide information on the income of non-oil sector and regions.
In 2016, the plan-forecast on collection and of taxes and duties of the Ministry is 7 billion 10 million manats, amounting to 41.7% of the revenue of the state budget. --08D
Economics
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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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