In January of this year, according to the State Customs Committee (SCC), the transfer to the state budget of 103 million 745.7 thousand manat was provided. This is 6.6% more than in the same month last year. However, with this rate it is unlikely to be able to collect the target established for the customs this year - 1 billion 590 million manat.
According to the State Customs Committee, in January 31.9 million manat or 30.8% of customs revenue accounted for import duties. A year earlier, the share of customs duties in the fee structure of the SCC was 19.5%. VAT was collected in the amount of 66.3 million manat, which is 8.1 million manat less than in January 2014.
From 1 March, new excise rates on certain types of goods (cars, jewelry, alcohol and cigarettes) come into force in Azerbaijan.
Independent analysts say that the resources to ensure the collection of customs duties and taxes make it possible to exceed the annual forecast. Referring to the "mirror statistics" of many of the leading trade partners of Azerbaijan, it is said that every year about 25% of imports of Azerbaijan are not reflected in customs statistical reports. ----08D
Economics
-
Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
-
Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
-
While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
-
The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
Leave a review