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Revenues from State Customs Committee hit 1.15B manats

10 July 2017 [15:41] - TODAY.AZ

By Azernews

By Sara Israfilbayova

The volume of transfers from the Azerbaijani State Customs Committee to the state budget amounted to 1.15 billion manats ($675.6 million) in January-June this year.

The figure is 153.2 million manats ($90 million) or 15.39 percent more, as compared to the same period of 2016.

For the reporting period, revenues on customs duties amounted to 312.2 million manats ($183.4 million), for VAT (Value Added Tax) – 788.4 million manats ($463.2 million), excise tax – 32.7 million manats ($19.2 million) and road tax – 15.2 million manats ($8.9 million).

Earlier, Chairman of the State Customs Committee of Azerbaijan Aydin Aliyev said that the Committee has entirely fulfilled the forecast for budget revenues for 6 months of the current year, further adding that the Committee will fulfill the forecast provided in the updated state budget.

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 ($300.2 million) or 3.1 percent more than the initially approved forecast. Expenditures are expected to stand at 17.9 billion manats ($10.5 billiob), 1.04 billion manats ($611 million) or 6.2 percent more than the initial forecast.

Deficit of the state budget is forecast to stand at 1.2 billion manats ($705 million) [an increase by 530 million manats ($311.4 million)], which is 1.8 percent of expected GDP of Azerbaijan in 2017.

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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