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Tax collection forecast met at 84% in Azerbaijan

Tax collection forecast met at 84% in Azerbaijan

16 October 2009 16:51 (UTC +04:00)

Baku. Rashad Suleymanov - APA-ECONOMICS. Azerbaijanâ€™s Ministry of Taxes has met the budget forecast for tax collection at 84% during January-September, said Sahil Mammadkhanov, Deputy Minister of Taxes.

According to him, revenues from the oil sector, including profit taxes from production-sharing agreements were lower than projected figures.

"AZN 300 million came from the oil sector and PSA projects during nine months, down 45% from the forecast. This is due to the global financial crisis. However, unlike the AIOC, SOCAR has met the forecast at 98%,â€ he added.

He also added that the changes are expected in excise tax rates in 2010.

There are 215 000 taxpayers in Azerbaijan.

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