Azerbaijan increases budget commitments of tax authorities

Baku. 20 October. REPORT.AZ/ 39.3% or 7.907 bln AZN of revenues in the Azerbaijani state budget for next year will account for the Ministry of Taxes.

Report informs referring to the draft law "On the state budget for 2018".

According to the document, this is more by 262 mln AZN or 3.4% compared to the analogical forecast in 2017.

Budget burden of the State Customs Committee increased by 8% or 180 mln AZN and reached 2,43 bln AZN. This is equal to 3.5% of the expected GDP next year, and 12.1% of budget revenues.

As it was previously noted, 9,216 bln AZN will be transferred from the State Oil Fund of Azerbaijan (SOFAZ) to the budget in 2018 as well as 574 mln AZN is forecasted from other sources (including 460 million AZN from paid services of budget organizations).

Notably, budget revenues for 2018 are estimated at 20,127 bln AZN, which is more by 20% or 3.361 bln AZN than 2017 forecast, with 28.9% of the forecasted GDP.