OREANDA-NEWS. July 20, 2011. In Azerbaijan tax transfers to the State Budget from the country’s regions in the first half of 2011 impemented the forecast by 122%.

Deputy tax minister Sahir Mammadkhanov informs that over the last 6 months regions’ tax transfers amounted to AZN 197.2 million.

"As a result, the forecast was implemented by 122% that is by AZN 41.5 million or 26.7% more against the 2010 same term," he said.

He added that as of 1 June the main tax debt on the territorial tax offices amounted to AZN 495.8 million. Over the last 6 months it was written off only AZN 21.2 million of tax debts, of which 90% fell on the share of territorial taxpayers.

According to the primary data, during the first half–year the State Budget was transferred AZN 2.564 bn of taxes, of which AZN 696.8 million were provided by the state sector and AZN 1.867 bn by the private one.

"Revenues from the private sector during this period against last year’s same term grew by 39%, and the share of private sector in tax revenues grew from 67.1% to 72.8% compared with the 2010 relevant period,” the deputy mister said.