Azerbaijan records more tax revenues

In Azerbaijan tax revenues provided by the non-oil sector increased by 40 percent in January, Deputy Minister of Taxes Sahib Alekperov told media on Tuesday.

"Last year, the ministry has provided the state budget with $ 5.5 billion manat. This surpasses the 2010 result by 27.5 percent," he said.

Income from non-oil sector increased by 22 percent in the past year, and this growth trend will be maintained in the future.

State budget revenues for 2012 are projected at 16.438 billion manat level, where the share of revenues from the oil sector accounts for 12 billion manat , and from non-oil for 4.4 billion manat. The share of revenue from non-oil sector is projected at 26.8 percent.

Revenues from the Ministry of Taxes are estimated at 5 311.6 million manats, including payments for income tax from contracting companies, that work within the frames of the oil and gas agreements, such as the PSA - 810 million manat, consolidated taxes and other charges (excluding income tax) under the SOCAR - 1 321.6 million manat, tax and nontax payments from non-oil sector - 3 180 million manat.


/Trend/