Budget system of Azerbaijan Republic

Budget system of Azerbaijan Republic consists of the state budget of Azerbaijan Republic, Budget of the Nakhchivan Autonomous Republic, and local budgets. The budget system is based on the independence and operation of budgets included into the system on the common principles. The unity of the budget system is based on the interaction of budgets by using regulatory sources of profit, establishing targeted budget funds, and distributing financial resources among budgets of various levels.

The unity of the budget system is ensured by using the same budget classification, budget documents and forms, by preparing regular report and summary budget reports concerning budget implementation, and by submitting in the form defined by legislation. In compliance with the legislation, the independence of the budgets is determined by the fact that they are entitled to determine the courses of profit resources and expenditures in the framework of unified budget classification.

The object of state budget of Azerbaijan Republic is to solve the economic, social, and other strategic programs and problems of the country, to ensure the collection and effective use of financial funds for the exercise of state functions as defined by legislation. The state budget of Azerbaijan Republic consists of centralized incomes and expenditures, local incomes and expenditures.

The budget of Nakhchivan Autonomous Republic is established by the Constitutions of Azerbaijan Republic and Nakhchivan Autonomous Republic, by this Law and other legislative acts. The budget of Nakhchivan Autonomous Republic is formed on the basis of public taxes defined by the Tax Code of Azerbaijan Republic, other payments, interests and sanctions for these taxes and payments, and other incomes as well. Budget funds of Nakhchivan Autonomous Republic are used for financing the measures concerning social and economic development, and improvement of the welfare of the population.

The local budget is the financial funds established and used to realize the principle of self-government in compliance with the municipal status and to exercise the authority of the municipals defined by the Constitution and legislations of Azerbaijan Republic. The composition and exercise of local budget is conducted on the basis common principles defined by the legislation of budget system and in accordance with the budget classification used in Azerbaijan Republic.

The scheme of budget system in Azerbaijan Republic:

The following charter reflects the exact resources of profits of the State Budget:

№

The resources of profits

1

Income tax of natural persons

2.

Income tax of legal persons

3.

Value added tax

3.1

Value added tax for the import of goods to Azerbaijan Republic

4

Excise tax

4.1.

Excise tax for the import of goods to Azerbaijan Republic

5

Property tax of the legal persons

6.

Land tax imposed on the legal persons

7.

Road tax

7.1

The road tax paid by the owners of the motor vehicles of the foreign countries

8.

Mining tax

9

Simplified tax

10

Customs duties

11

State duties

12

The rental fees received from renting the lands in the state property

13.

Other non-tax profits

14.

The incomes from renting the state property, the lands under the control of the privatized public enterprises and objects

15

The incomes from the credits given to the governments of the foreign countries

16.

The dividends received from the banks and other credit organizations in the shares of which the state has some portion

17.

The incomes from the credits taken from the credit organizations on the state guarantee of Azerbaijan Republic

18.

The dividends taken from the non-financial state enterprises

19

The incomes from the State Oil Fund

20

The incomes from the credits given from the budget

21

The incomes from the secondary debt contract

22

The incomes from the sale of excise marks

23.

The incomes from the sale of strict reporting blanks

24

The incomes from the paid services of the budget organizations

25

The incomes from submitting the single treasury account remainder (free remainder) to the management

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