Azerbaijan's Nakhchivan magnifies tax revenues from local active facilities

Economy Materials 13 June 2024 22:37 (UTC +04:00)
Ingilab Mammadov
Ingilab Mammadov
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BAKU, Azerbaijan, June 13. Tax revenues from active facilities in Azerbaijan's Nakhchivan Republic significantly grew from January through May 2024 year on year, Trend reports via the State Tax Service under the Ministry of Economy.

According to the service, this figure amounted to nearly 4.5 million manat ($2.6 million), up 2.1 times, or 2.3 million manat ($1.3 million).

As of June 1 of this year, the number of active facilities (business entities) increased by 7.2 percent compared to the beginning of the year and reached 5,709.

To note, the budget revenues of Nakhchivan through the State Tax Service amounted to 78.3 million manat ($46 million) in the first five months of this year, up 23.6 percent, or 15 million manat ($8.8 million) from the same period in 2023.

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