The Azerbaijani government considers reception of tax revenues to the public budget only in manats that will simplify budgetary accounting. At present some companies transfer taxes in hard currency, Fazil Mammadov, the Taxes Minister, told Trend . In any case the state has foreign currency account.
Oil companies and subcontractors, involved in the implementation of the oil projects, carry out tax transfer to the public budget in foreign currency. It was envisaged in the contracts, but NBA suspended converting of the revenues into manats during several months in 2005 in relation to anti-inflation measures that create problems in the budget accounting. Despite the solution of the issue by late 2005, the government still determines the side, which will cover the expenses for converting.
