(MENAFN- AzerNews) By Ayya Lmahamad
Azerbaijani Parliament has adopted the state budget for 2023 in
the third reading, Azernews reports per Trend.
On December 9, the state budget of Azerbaijan for 2023 was
discussed at a meeting of the parliament. During the discussions,
the MPs shared their proposals and opinions. After the discussion,
the state budget was put to a vote and adopted in the third
reading.
According to the amendments, both the revenue and expenditures
of the state budget were increased by AZN53 million ($31.1m)
respectively. Revenue for 2023 will total AZN30.7 billion ($18bn),
while expenditures will total AZN33.3 billion ($19.5bn).
Bill on subsistence minimum
The bill“on the subsistence minimum for 2023” was discussed,
put to the vote and adopted in the third reading.
According to the bill, the subsistence minimum for 2023 is set
at AZN246 ($144), for the working population at AZN261 ($153), for
retirees at AZN199 ($117) and for children at AZN220 ($129).
Bill on threshold of need criterion
The threshold of need criterion for 2023 has been raised by 23
percent, compared to 2022, and will amount to AZN246 ($144).
Thus, the thresholds of the subsistence minimum and the need
criterion for 2023 are equalized.
The bill 'on the threshold of need criterion in Azerbaijan for
2023' was discussed, put to the vote and adopted in the thrid
reading.
State Social Protection Fund budget for
2023
Moreover, the bill“on the budget of the State Social Protection
Fund for 2023” was discussed in the third reading and adopted at
the plenary session.
The total expenditures of the fund for 2023 are projected at
more than AZN6 billion ($3.6bn).
Unemployment Insurance Fund budget for 2023
The bill“on the budget of Azerbaijan's Unemployment Insurance
Fund for 2023” was discussed, put to the vote and adopted in the
third reading.
According to the bill, the income and expenses of the fund are
approved at the level of AZN212.6 million ($133.2m).
In the income structure in 2023, income in the form of
unemployment insurance premiums will amount to AZN159.5 million
($93.8m), which is 75 percent of the fund's income, unused funds of
the fund at the end of the previous year AZN53.3 million ($31.3m),
or 24.9 percent of the income.
VAT refund for cash & cashless payments
Moreover, the parliament also discussed the bill on increasing
the VAT refund for cashless payments and decreasing it for cash
transactions.
In this regard, the relevant draft proposes to reduce the VAT
refund during cash transactions from 10 to 5 percent and increase
it from 15 to 17.5 percent for cashless payments in order to
promote non-cash transactions.
The bill was put to the vote and adopted in the third
reading.
Exemption of raw & other materials from VAT in liberated
territories
The issue of exempting raw and other materials, that are used in
the country's liberated lands and imported by residents, from VAT
was also discussed. The relevant bill was put to the vote and
approved in the third reading.
The bill provides for exemption from import duties on raw and
other materials used in the production activity by residents of
liberated lands, registered for VAT purposes, for a period of 10
years from January 1, 2023. The list of these materials will be
approved by the relevant executive authority.
Lump sum payments for experts working in liberated
lands
Likewise, a bill amending the law 'on social benefits' was
discussed at the parliament's meeting. Following parliamentary
discussions, the changes were put to a vote and adopted.
According to the changes, paragraph 4.0.2.4 of Article 4 of the
law establishes an allowance to support the primary living
conditions of experts working on Azerbaijan's liberated lands.
Meantime, Article 7.0.14 defines the terms for granting
benefits.
Following Article 21-1 of the Labor Code of Azerbaijan, from
January 1, 2023, a one-time allowance for five years will be
provided to support living conditions under employment contracts
for at least one year to work in the liberated territories.
Benefits for those working on liberated
territories
Additionally, duties and benefits for those working on the
liberated lands of Azerbaijan have been approved.
A bill amending the Labor Code of Azerbaijan was discussed at
the parliament's meeting.
Following the changes, the term 'expert working in the liberated
territories of Azerbaijan' is added to the code.
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Ayya Lmahamad is AzerNews' staff journalist, follow her on
Twitter: @ayyalmahamad
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Tags: azerbaijan parliament state budget