Baku, Azerbaijan, April 2
By Fakhri Vakilov –Trend:
Budget revenues from taxes for the first quarter of this year amounted to 18.4 trillion soums, which is 1.7 times more than the same period last year, Trend reports with reference to the press service of the State Tax Committee.
In the first quarter of this year, the figures for value-added tax revenues doubled. The number of VAT payers has increased 5 times, which means that there are 35,000 business entities.
Compared to the same period last year, in the first quarter of 2019, the rate of income tax revenue grew 2.6 times. The number of entrepreneurs paying this tax has increased 5 times, passing the mark of 32,000.
Moreover, 49,700 legal entities paid the water tax, which is 14.4 times more compared to last year’s figures.
The number of land tax payers for this period increased by 5.8 times, reaching 75,000 legal entities.
An additional incentive for the legalization of jobs is the introduction of a single tax rate on personal income in the amount of 12 percent this year.
In general, during the quarter, the number of individuals paying income taxes reached 4.8 million, and increased by 450,000 or by 10 percent.
($1-8422.47 soums on April 2)
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