Baku, Azerbaijan, Feb. 28
By Emin Aliyev -Trend:
The state budget projections of Azerbaijan for 2014 will not be reviewed in connection with the decisions of the Cabinet of Ministers on the revaluation of rates of excise taxes and customs duties on imports of petroleum products, the Ministry of Finance of Azerbaijan told Trend on Feb. 28.
"The decisions of the Cabinet on the reduction of the rates of excise duties on petroleum products will not affect the performance projections on income to the state budget. We hope that the projection will be implemented by means of increase in fees from other sources which will be caused by the growth of production," the ministry said.
"If reduced fees for excise taxes will affect the execution of budget projections, the proper steps will be taken," the ministry spokesman said.
The Cabinet of Ministers of Azerbaijan made amendments on the excise duty rates of gasoline imported into the country on Feb. 7.
The rate of excise duty on motor gasoline with not more than a 95 octane rating (containing lead both below and above 0,013 grams per liter) is set at the level of $1 per ton of fuel, according to the decision. The rate on this type of fuel is valid from Feb. 7 to June 1 this year.
Excise duty on imports of gasoline with octane rating higher than 95, but not more than 98 (containing lead both below and above 0,013 grams per litre) is set at $ 100 per ton. Rate of excise duty on imports of motor gasoline with a 98 octane rating or higher (regardless of lead containing) will be $ 150 per ton.
These changes do not apply to imports of jet fuel.
In accordance with another decision of the Cabinet of Ministers the above-mentioned import of fuels was exempted from customs duties.
Another decision of the Cabinet revised excise duties on petroleum products. According to the decision, the excise tax rates on AI-95 gasoline decreased by 2.5 times, for AI-92 and AI-80 gasoline - twice, diesel fuel - by 3.2 times, jet engine fuel - by 7.6 times, naphtha - 5.4 times, liquefied gas - three times, motor fuel (DT-36) - seven times, motor fuel (DT-20) - 5.2 times, furnace oil - 49 times and bitumen (BN-60/90, BNB-60/70) - 16.4 times.
Revenues from customs duties to the state budget in 2014 are projected at 330 million manat, which exceeds the actual figure for 2012 by 43.8 percent, while the projection for 2013 was 15.6 percent.
The volume of revenues from the excise tax through customs for 2014 is projected at 90 million manat, which exceeds the index in 2012 by 17.1 percent, and in 2013 - by 8.4 percent.
For 2014, the revenue projections for excise taxes amount to 874.5 million manat, of which 784.5 million manat must be collected by the tax authorities.
Forecast for allocations for the Azerbaijani Ministry of Taxes to the state budget is set at 7.102 billion manat for the year.
Forecast for the allocations through the State Customs Committee allocation is set at 1.52 billion manat in 2014.
The official exchange rate on Feb. 28 is 0.7844 AZN/USD.
Translated by S.I.
Edited by C.N.
