Customs Committee ups transfers to state budget

By Azernews

By Gunay Hasanova

Azerbaijan’s State Customs Committee transferred 1.18 billion manats to the state budget in January-July 2016, a Committee report said.

Volume of payments increased by 30.3 percent in January-July 2016 compared to the same period of 2015.

In January-July 2016, revenues from customs duties were 317.16 million manats, from VAT – 771.25 million manats, from excise – 58.77 million manats, from highway use tax – 35 million manats.

Compared to January-July 2015, revenues from customs duties increased by 28.44 percent, from VAT – by 28.73 percent, from highway use tax – by threefold, while the revenues from excise decreased by 15.1 percent.

In July 2016, the revenues were 186.79 million manats, with revenues from customs duties totaling 46 million manats, from VAT – 123.4 million manats, from excise – 14.77 million manats, from highway use tax – 2.6 million manats.

Compared to July 2015, the Committee increased its revenues from customs duties by 48.4 percent, from VAT – by 22.7 percent, from excise – by 75.8 percent, from highway use tax – by 78.1 percent.

In total, the customs payments to Azerbaijan’s state budget are forecast at 1.81 billion manats.

The 2016 state budget revenues are projected at 16.822 billion manats ($10.775 billion), while budget expenditures at 18.495 billion manats ($11.847 billion).

Income from the non-oil sector in the revenue part of the budget is projected at 7.597 billion manats ($4.867 billion).

Transfers from the Taxes Ministry will increase by 6.2 percent to 7.01 billion manats ($4.49 billion), and the State Customs Committee by 13.8 percent to 1.8 billion manats ($1.153 billion).

Other budget revenues will amount to 75 million manats ($48.04 million).