Azerbaijan reveals data on state budget revenues from taxes

Finance Materials 8 June 2020 18:45 (UTC +04:00)
Azerbaijan reveals data on state budget revenues from taxes

BAKU, Azerbaijan, June 8

By Eldar Janashvili – Trend:

The State Customs Committee (SCC) of Azerbaijan transferred 348.2 million manat ($204.8 million) to the state budget, which is 1.9 percent more compared to the same month of 2019, Trend reports citing the committee.

In the reporting month, the amount of customs duties exceeded 71 million manat ($41.7 million), or 20.4 percent of all revenues, value added tax (VAT) - 263.4 million manat ($154.9 million) or 75.6 percent, excise taxes - 10.6 million manat ($6.2 million) or 3.1 percent. The road tax is 3 million manat ($1.7 million) or 0.9 percent.

The specific share of VAT revenues increased by 7.6 percentage points over the year, due to a reduction in the excise share by 2.8 percentage points.

On an annualized basis, revenues from customs duties decreased by 20.3 percent, from VAT - increased by 15.2 percent, from excise taxes - almost halved. Revenues from the road tax decreased by 15.2 percent over the year.

The revenues of state budget from the SCC are generated in four directions: customs duties, VAT, excise tax and road tax.

(1 USD = 1.7 manat on June 8)


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