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Amount of customs revenues in Azerbaijan shows significant increase

Finance Materials 16 April 2020 13:07 (UTC +04:00)
Amount of customs revenues in Azerbaijan shows significant increase

BAKU, Azerbaijan, Apr. 16

By Eldar Janashvili - Trend:

Revenues from Azerbaijan’s State Customs Committee (SCC) to the state budget exceeded 991 million manat ($582.9 million) from January through March 2020, which is 22.4 percent more compared to the same period of 2019, Trend reports citing data of the SCC.

In 1Q2020, the amount of collections on customs duties amounted to 257.8 million manat ($151.6 million), or 26 percent of all revenues, value added tax (VAT) – 691.2 million manat ($406.5 million), or 69.7 percent, excise taxes – 31.36 million manat ($18.4 million), or 3.2 percent. The road tax is 10.63 million manat ($6.2 million), making up 1 percent of all revenues.

Revenues from customs duties increased by 10.7 percent in March 2020 compared to the same month of 2019, from value added tax (VAT) - by 3.2 percent, from excise taxes - by 2.9 percent. Revenues from the road tax dropped four times.

In 1Q2019, revenues from the SCC exceeded 1 billion manat ($588.2 million). Meanwhile, the total revenues increased by 49.4 percent.

State budget revenues from the State Customs Committee are generated in the following four directions: customs duties, VAT, excise tax and road tax.

(1 USD = 1.7 AZN on Apr. 16)

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