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11M2020 revenues from customs duties to Azerbaijani state budget down

Finance Materials 25 December 2020 17:16 (UTC +04:00)
11M2020 revenues from customs duties to Azerbaijani state budget down

BAKU, Azerbaijan, Dec.25

By Fidan Babayeva - Trend:

Revenues of the state budget of Azerbaijan from value-added tax (VAT) decreased by 7.4 percent in 11M2020 compared to the same period of 2019, making up 2.51 billion manat ($1.48 billion), Trend reports citing the Azerbaijani State Customs Committee (SCC).

According to the SCC, from January through November of this year, the volume of customs duties received by the state budget of Azerbaijan dropped by 8.6 percent on an annualized basis and amounted to 912.9 million manat ($537 million).

Meanwhile, the revenues to the state budget of Azerbaijan through the State Customs Service in the reporting period amounted to 3.58 billion manat ($2.1 billion), down by 10.5 percent year on year.

At the same time, the revenues from excise taxes decreased by 44.5 percent to slightly over 128.1 million manat ($75.3 million), and from road tax - by 19.9 percent to 33.3 million manat ($19.6 million).

(1 USD = 1.7 manat on Dec.25)

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Follow the author on Twitter: @Fidan_Babaeva

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