Azernews.Az

By Amina Nazarli

Azerbaijan’s Taxes Ministry will fulfill its forecast on taxes revenues to the state budget for 2016.

Deputy Taxes Minister Ilkin Veliyev made the remark while talking to reporters on June 29, further adding that the forecast for the first six months of 2016, which is already prepared, will be also published soon.

Revenues from the country's Taxes Ministry to the state budget are expected in the amount of 7.01 billion manats or 41.7 percent of total budget .

In January-May 2016, the Ministry transferred 2.683 billion manats (about $1.735 billion) of tax payments to the state budget, which is 3.2 percent more than it’s forecasted.

Revenues of Azerbaijan's 2016-state budget were approved in the amount of 16.822 billion manats (about $10.879 billion), and expenses in the amount of 18.495 billion manats (about $11.961bilion). Budget forecasts are formed on the basis of oil prices at $ 25 per barrel.

Veliyev added that the share of tax debts makes up about five percent of the tax revenues in Azerbaijan.

The number of tax debtors is about 10,000 in the country, according to the deputy minister.

In early 2016 the amount of the tax debt was 2.4 billion manats, then dropped to 1.6 billion manats as of April 1, 2016, 22 percent of which fell on the debts of public enterprises.

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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

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