Finance

Home page

Finance

Budget receipts for income tax of individuals to rise 13% in Azerbaijan next year

08 October 2013 11:08 (UTC +04:00)

Baku. Agshin Rafigoglu – APA-Economics. 12.4% of incomes to the state budget-2014 via the Taxes Ministry is expected to fall to share of receipts on income tax. It will made AZN 882.0 mln in face value.

Compared to 2012, premiums on this type of tax are expected to increase by AZN 69.0 mln or 8.5%, compared to 2013 – AZN 99.0 mln or 12.6%.

Receipts from corporate profit tax will make 31.2% of incomes to the state budget via the Taxes Ministry (AZN 2,217.0 mln). AZN 977.0 mln of it will fall to share of amount of income tax by the contractor on production sharing oil-gas field.

Corporate profit tax is forecasted at AZN 35.0 mln or 1.6% compared to 2012 and AZN 62.0 mln or 2.7% compared to 2013.

Income tax on the non-oil sector is forecasted at AZN 950.0 mln, up AZN 269.8 mln or 39.7% compared to 2012 and AZN 116.0 ml or 13.9% compared to 2013.