Taxes Ministry exceeds revenue forecast

8 August 2017 16:48 (UTC+04:00)

By  Trend

Tax revenues of the Azerbaijani state budget exceeded 4.85 billion manats in January-July 2017, which is 0.4 percent more than the forecasted figure, said the country’s Taxes Ministry on August  8.

The Taxes Ministry is expected to transfer 7.645 billion manats (45.6 percent of total budget revenues) to the state budget in 2017.

The Azerbaijani Parliament [Milli Majlis] approved the amendments to the Law on State Budget of 2017 on June 30.

Revenues in the revised state budget are forecast at 16.8 billion manats ($9.9 million), which is 511 million manats ($300.3 million) or 3.1 percent more than the initially approved forecast. Expenditures are expected to stand at 17.9 billion manats ($10.5 billion), 1.04 billion manats ($611 million) or 6.2 percent more than the initial forecast.

Under the changes, about 135 million manats ($79.3 million) will be added to the state budget through the Ministry of Taxes. Moreover, 76 million manats ($44.6 million) are planned to be attracted through off-budget revenues. It is also planned to attract additional funds through the State Customs Committee (2.205 billion manats-$1.3 billion). The profit of the Central Bank of Azerbaijan (CBA) will also be included in the state budget.


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