Budget revenues from customs have sharply decreased or... – Research

In January-February of this year, 1 billion 17.8 million manats (598.7 million dollars) in taxes and duties were transferred to the state budget through the State Customs Committee (SCC).
Yeniavaz.com reports with reference to official data, this is 5% or 48.5 million manats more than in the same period last year.
It should be noted that in January-February of last year, 969.3 million manats (570.2 million dollars) were transferred to the state budget from customs.
It should also be noted that, compared to the same period last year, customs revenues to the budget decreased proportionally to the total volume of trade turnover, including imports.
Thus, in January-February of last year, foreign trade turnover amounted to 7 billion 226.6 million dollars, and the total value of imports was 2 billion 446.6 million dollars.
This means that in January-February of last year, the budget received funds equal to 7.9% of foreign trade turnover and 23.3% of imports.
For comparison, in January-February of this year, foreign trade turnover amounted to 8 billion 904.5 million dollars, and the total value of imports was 4 billion 138 million dollars.
As a result, the amount of funds received by the budget in January-February of this year amounted to 6.7% of foreign trade turnover and 14.5% of imports.

As can be seen from the published data, although imports increased almost twofold compared to last year, there was no significant increase in taxes and duties paid to the budget.
In an interview with Yeniavaz.com on this issue, economist expert Allahverdi Aydin stated that with an increase in imports, a decrease in customs taxes and duties can occur for several reasons:
"One of them is the exemption of imports of some goods from customs duties, and at the same time, budget revenues are reduced. The main reason for the doubling of imports compared to last year is the purchase of a large volume of gold by the State Oil Fund. According to official data, in the first two months of this year, the Oil Fund imported gold worth about $ 1.5 billion into the country. Since the gold imported by the Fund from abroad is exempt from customs duties, the doubling of imports did not have any impact on budget revenues."

Elnur Ali