Taxpayers overpay over 2B manats to Azerbaijani state budget

  02 November 2017    Read: 1326
Taxpayers overpay over 2B manats to Azerbaijani state budget

Taxpayers overpaid 2.14 billion manats to the state budget of Azerbaijan in 1H17 that is 82.7 percent more than the volume of tax debts, the country’s Accounts Chamber said in the conclusion of draft law on Azerbaijan’s state budget for 2018.

Under the document, 53.6 percent of funds overpaid by taxpayers to the state budget are accounted for the private sector, 19.6 percent accounted for state companies, 16.3 percent for foreign companies, and the remaining 10.5 percent accounted for joint companies.

Meanwhile, 90.6 percent of the overpaid funds are accounted for companies operating in the non-oil sector, while companies in the oil sector accounted for 9.4 percent.

As of July 1, 2017, tax debts to the state budget of Azerbaijan amounted to slightly more than 1.17 billion manats, in particular, 961.19 million manats accounted for the main debt.

More than 66 percent of tax debts accounted for the private sector, 20.7 percent – for the public sector, 13.2 percent – for foreign and local companies.

Three percent accounted for tax debts of companies operating in the oil sector, while 97 percent of total debts accounted for companies operating in the non-oil sector.

Tax revenues of the Azerbaijani state budget exceeded 5.22 billion manats in January-September 2017 that is 0.1 percent more than the forecast.

Revenues of Azerbaijan’s state budget have been approved in the amount of 16.766 billion manats, expenses – 17.941 billion manats for 2017. Budget forecasts are formed on the basis of oil prices at $40 per barrel.

(1.7003 manats = 1 USD on Nov. 2)

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