This year`s revenues from social insurance contributions exceed AZN 1 bn

16:20 - 7.08.2019


August 7, Fineko/abc.az. According to Tax Ministry’s report for 1st half of

2019, revenues from social insurance contributions grew by 16.3% up to AZN 1.27 bn, and the forecast was met by 112.5%.

Revenues from extra-budgetary organizations increased by 18% (forecast was met by 116%). Revenues from unemployment insurance contributions grew by 47% up to AZN 48 million (forecast was met by 116%) and these revenues on extra-budgetary organizations increased by 60 % (forecast is fulfilled by 121%).

The forecast on the collection of contributions to social insurance and unemployment insurance of the State Social Protection Fund for the current year was increased by AZN 365 million.

As a result of the application of income tax benefits for hired employees working in the private sector of the nonoil sector, the tax losses of AZN 300 million expected by the end of the year will be fully compensated by the growth of social insurance and unemployment insurance contributions.

 

Other news