Azerbaijani state budget revenues on VAT slightly down

Finance Materials 11 August 2020 11:58 (UTC +04:00)
Azerbaijani state budget revenues on VAT slightly down

BAKU, Azerbaijan, Aug.11

By Eldar Janashvili - Trend:

The amount of revenues on value added tax (VAT) in the Azerbaijani state budget decreased by 0.1 percent from January through July 2020 compared to the same period in 2019 and made up nearly 1.7 billion manat ($990 million) or 71.7 percent of all revenues, Trend reports referring to the State Customs Committee.

According to the data, 2.3 billion manat ($1.3 billion) was transferred to the Azerbaijani state budget through the committee over the reporting period, which is 4.8 percent less than in the first 7 months of last year.

The total amount of revenues since early 2020 grew by 16.8 percent.

From January through July 2020, the volume of customs duties transferred to the Azerbaijani state budget amounted to 568.5 million manat ($334.4 million) or 24.1 percent of all revenues.

Meanwhile, the amount of revenues on excise taxes amounted to 78.4 million manat or $46.1 million (3.3 percent of all revenues) and on road tax - 21.5 million manat or $12.6 million (0.9 percent).

In total, the revenues on customs duties decreased by 4.8 percent compared to the first seven months of last year, on excise taxes – by more than twice, and on road tax - by 16.8 percent.

The state budget revenues via the State Customs Committee are formed in four directions: customs duties, value added tax (VAT), excise and road taxes.


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