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Azerbaijan discloses VAT-based state budget revenues for entire 2020

Business Materials 11 January 2021 17:19 (UTC +04:00)
Azerbaijan discloses VAT-based state budget revenues for entire 2020

BAKU, Azerbaijan, Jan. 11

By Fidan Babayeva - Trend:

The revenues to the state budget of Azerbaijan from value-added tax (VAT) decreased by 8.7 percent in 2020 compared to 2019 and amounted to 2.74 billion manat ($1.61 billion), Trend reports citing the State Customs Committee (SCC) of Azerbaijan.

“In addition, the volume of customs duties received by the state budget of Azerbaijan on an annualized basis decreased by 8.3 percent and amounted to 1.01 billion manat ($594.1 million).

According to the committee, the number of revenues to the state budget of Azerbaijan through the SCC in 2020 amounted to 3.93 billion manat ($2.31 billion), which decreased by 10.6 percent over the year.

The volume of revenues from excise taxes decreased by 42.5 percent - to 143.5 million manat ($84.4 million), and from road tax - by 19.3 percent, amounting to 36.6 million manat ($21.5 million).

(1 USD = 1.7 AZN on Jan. 11)

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