Azernews.Az

By Nigar Abbasova

Azerbaijan’s Taxes Ministry generated some 4.35 billion manats ($ 2.65 billion) of revenues as part of tax payments to the state budget in January-August 2016, which is 0.3 percent higher than the forecasted level, the ministry reported.

As many as 75,806 taxpayers were registered in the country in the reported period.

Deputy Taxes Minister Ilkin Veliyev earlier said that Taxes Ministry would fulfill its forecast on tax revenues to the state budget for 2016.

Revenues from the country's Taxes Ministry to the state budget are expected in the amount of 7.01 billion manats ($ 4.27 billion) or 41.7 percent of total budget in 2016. The forecast is based on the oil prices standing at $25 per barrel.

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 $11.961 bilion).

The country has recently introduced certain changes in its tax system, which envisages improvement of tax legislation and facilitation of business doing in the country.

The official exchange rate of the US dollar and euro to Azerbaijani manat was set at 1.6403 manats and 1.8454 manats, respectively, on September 8.

--

Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

Follow us on Twitter @AzerNewsAz