Customs revenues in Azerbaijan down for October

Finance Materials 12 November 2020 15:36 (UTC +04:00)
Customs revenues in Azerbaijan down for October

BAKU, Azerbaijan, Nov.12

By Fidan Babayeva - Trend:

The volume of customs duties received in the state budget of Azerbaijan on an annualized basis decreased by 23.5 percent in October 2020, compared to the same indicator in 2019 and amounted to 84.6 million manat ($49.7 million), Trend reports citing the State Customs Committee (SCC) of Azerbaijan.

As reported, in the reporting month the revenues to the state budget of Azerbaijan through the committee amounted to 314.4 million manat ($184.9 million), lower by 20.4 percent compared to the same period of last year.

The volume of VAT revenues fell by 18.8 percent compared to October 2019 - to 214.9 million manat ($126.4 million).

The volume of receipts from excise taxes declined by 24.6 percent to 11.93 million manat ($7.02 million), and from road tax - by 3.4 percent to 2.85 million manat ($1.68 million).

The duties of the Customs Service of Azerbaijan include protecting the sovereignty, economic and national security of Azerbaijan, as well as improving the social welfare of the people, facilitating international trade, ensuring the collection of customs payments, and transferring them to the state budget, as well as preventing fraud in the customs sphere and combating international terrorism.

(1 USD = 1.7 AZN on Nov. 12)


Follow the author on Twitter: @Fidan_Babaeva