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Forecast on budget transfers through Ministry of Taxes increased by 6%


Budget transfers through Ministry of Taxes will make up AZN 7,380,000,000 in 2018, up AZN 406.5 million or 5.8% form 2017.

 

According to draft law on amendments to 2018 state budget, AZN 5 billion is forecasted to be transferred from non-oil sector through Ministry of Taxes, down AZN 189.5 million or 3.7% from 2017, AZN 1,027,000,000 or 17% from approved budget for 2018.

 

Forecast on profit tax of legal entities is AZN 2,533,000,000, up AZN 213,000,000 or 9.2% from approved forecast for 2018. Of this, AZN 1,347,000,000 is expected to come from non-oil sector, AZN 1,186,000,000 from oil sector.

 

At the same time, AZN 1,813,000,000 is expected to be transferred from VAT, down AZN 770,000,000 or 29.8% from approved forecast for 2018. Of this, AZN 1,486,000,000 is expected to come from non-oil sector, AZN 327,000,000 from oil sector.

 

Budget transfers on customs duties are planned to amount AZN 142,000,000, up AZN 30,000,000 or 26.8% from approved forecast for 2018. 

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