OREANDA-NEWS. December 22, 2009. Azerbaijan President Ilham Aliyev decreed to approve the Law on State Budget for 2010, which will come into force from January 1.

In compliance with decree on application of law, it is expected that the state budget will receive AZN 3.98 bn through the Ministry of Taxes and AZN 1.1 bn through the State Customs Committee (SCC)  in 2010.

It is expected that for the first time the non-oil sector (AZN 2.45 bn) will make up basis of tax revenues. Only AZN 1.53 bn of tax revenues will fall on the oil sector.

At the same time,  the State Oil company of Azerbaijan (SOCAR) will pay AZN  1.2 bn to the  state budget and the Azerbaijan International Operational Company (AIOC), the consortium of the foreign companies producing the basic volume of oil in the country, will give only AZN 0.33 bn.

The share of the oil sector in the general tax revenues will total  only 38.4 %.