BAKU, Azerbaijan, January 6. The State Tax
Service (STS) under the Ministry of Economy of Azerbaijan's
Nakhchivan Autonomous Republic has projected revenue of 4.5 million
manat ($2.65 million) from the simplified tax system for the next
budget year, which is 0.5 million manat ($294,000) or 10% less than
the forecasted amount for the current year, Trend reports via the
Accounts Chamber.
''According to information, the forecast indicators for the
simplified tax system weren't fully implemented during the first
nine months of the current year. The main reason for the
underperformance was a decrease in the simplified tax payments
related to apartment sales by notary offices, as well as reduced
payments from cash withdrawals from bank accounts. Therefore, the
forecast for the simplified tax system for the next budget year has
been reduced compared to the previous year. Since the forecast
indicators for the current year's nine-month execution weren't met,
there is a need to strengthen and clarify economic justifications
during the forecasting process for the next budget year to avoid a
deficit risk during execution," the information notes.
For 2026, the revenue projections for Nakhchivan budget include
248.2 million manat ($146.7 million) or 51.4% from the State Tax
Service, 17.5 million manat ($10.3 million) or 3.6% from the
Nakhchivan Main Customs Department of the State Customs Committee,
2.7 million manat ($1.6 million) or 0.6% from budget organizations'
paid services, 0.4 million manat ($235,000) or 0.1% from state
property rental revenues, one million manat ($588,000) or 0.2% from
the Environmental Protection and Natural Resources Fund, 1.7
million manat ($1 million) or 0.3% from other revenues, and 211.6
million manat ($124 million) or 43.8% from the funds allocated by
the state budget of Azerbaijan for revenue and expenditure
regulation (subsidy).
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