BAKU, Azerbaijan, Apr. 28
By Fidan Babayeva - Trend:
Tax revenues to the state budget of Azerbaijan from the oil and gas sector have increased, despite the relatively low oil production, Trend reports citing the State Tax Service under the Ministry of Economy of Azerbaijan.
According to the ministry, in the first quarter of 2021, budget revenues from the oil and gas sector amounted to 574.9 million manat ($338.1 million), which is 136.2 percent, or 152.7 million manat ($89.8 million), higher than the forecast.
"The State Tax Service under the Ministry of Economy fulfilled the forecast for tax revenues to the budget by 121.1 percent. Some 27.6 percent of the total tax revenues fell on the oil and gas sector," the statement said.
From January through March 2021, tax revenues to the state budget of Azerbaijan amounted to 3.1 billion manat ($1.82 billion).
(1 USD = 1.7 AZN on Apr.28)
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