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Azerbaijan's state budget revenues from customs duties drop

Finance Materials 12 November 2020 14:36 (UTC +04:00)
Azerbaijan's state budget revenues from customs duties drop

BAKU, Azerbaijan, Nov. 12

By Fidan Babayeva - Trend:

Revenues of the state budget of Azerbaijan from value-added tax (VAT) decreased by 7.4 percent from January through October 2020 compared to the same period of 2019, amounting to 2.29 billion manat ($1.34 billion), Trend reports citing the State Customs Committee (SCC) of Azerbaijan.

In the first 10 months of this year, the volume of customs duties received by the state budget of Azerbaijan dropped by 9.2 percent on an annualized basis and amounted to 825.6 million manat ($485.6 million).

According to the SCC, the revenues to the state budget of Azerbaijan through the State Customs Service in the reporting period amounted to 3.26 million manat ($1.96 million), an annual decrease of 10.3 percent.

At the same time, the revenues from excise taxes decreased by 46.9 percent to 115.2 million manat ($67.7 million), and from road tax - by 17.1 percent to 30.3 million manat ($17.8 million).

(1 USD 1.7 manat on Nov. 12)

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