Azerbaijan's state budget revenues through State Tax Service rise

Economy Materials 10 February 2023 12:17 (UTC +04:00)
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, February 10. Over 15.5 billion manat ($9.12 billion) were transferred to the state budget through the State Tax Service of Azerbaijan, said Head of the State Tax Service under the Ministry of Economy of Azerbaijan Orkhan Nazarli at the "Heydar Aliyev and Azerbaijan's tax system: to new challenges" event, Trend reports.

According to him, the fiscal revenues totaled 21.1 billion manat ($12.4 billion).

"Last year we transferred 15.5 billion manat ($9.12 billion) to the state budget for the first time, and this figure exceeded the transfers of 2021 by 82.2 percent. Revenues from the non-oil sector through the State Tax Service amounted to 8.13 billion manat ($4.7 billion), which shows an increase of 27.9 percent year-on-year," he said.

The share of the non-oil sector in GDP increased by 21.6 percent in 2022.

"The turnover of the non-oil sector increased by 22.6 percent, while that of VAT - by 21.7 percent. Economic activity increased by 7 percent, active VAT payers - by 15.1 percent, and active facilities - by 3.1 percent. Currently, about 712,000 entrepreneurs are active taxpayers," he added.

There are 291,435 entrepreneurs operating in the non-oil sector.

"As of today, there are 83,216 new cash registers in the country (an increase of 27 percent), and their turnover amounted to 19.5 billion manat ($11.4 billion) in 2022. Taxes in the trade sector increased by 54 percent," he added.