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Investigation: Increase of receipts to Azerbaijan State budget is related to rising of tax potential

21 June 2011 13:54 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. The ratio of receipts to state budget for 2011 to GDP is 4.7% higher than affirmed index, 7.3% than index in fact and it means that the tax potential increased in the country, said the analyze on â€œinfluences of amendments in state budge for 2011 to macroeconomic stability, economic development and social welfareâ€ prepared by expert group of the Centre for Strategic Studies under the President of the Republic of Azerbaijan on analyze of economy and globalization issues.

According to analyze, budget income/forecasted GDP ratio will be 34.7%.AZN 770 mln of budget incomes growth will be formed by tax and customs receipts (including AZN 740 mln via Ministry of Taxes, AZN 20 mln via State Customs Committee), AZN 2,723.2 mln by State Oil fund: â€œAccording to analyze on materials, 20% growth is expected to be on individuals income tax, 21% - on legal entitiesâ€™ profit taxes, 6.4% - on VAT, compared to a year earlier. The growth on all of these income components show that financial potential, populationâ€™s income rose, in Azerbaijan. Other important factor of amendments in budget is that, the growth on non-oil sector AZN 110 mln or 4% compared to a year ago. Consequently, receipts from non-ol sector will increase from AZN 2.740 mln to AZN 2.850 mlnâ€.

About expenditures, budget expenditures/forecasted GDP ratio is expected to make 35.4% (consolidated budget â€“ 41.6%), up 3.7% compared to affirmed index, 7.1% from year earlier.