BAKU, Azerbaijan, Aug.12
By Zeyni Jafarov - Trend:
Azerbaijan’s regional tax authorities have exceeded the forecast on transfers to the state budget in the first half of 2021, Trend reports citing the Tax Service under the Ministry of Economy.
According to the service, the transfers amounted to 462.6 million manat ($272.1 million), which is 19.1 percent above forecast (388.4 million manat or $228.4 million).
From January to June of this year, economic activity was observed in the regions, and the amounts transferred by taxpayers increased by 21.6 percent compared to the same period in 2020.
As of early July 2021, the number of active VAT payers by the regions has grown by 13.6 percent compared to the beginning of the year, and the number of registered objects - by 15.5 percent compared to the same period of last year.
"The growth of economic activity and income of entrepreneurship entities in the regions, on the one hand, has a positive effect on the regional diversification of budget revenues, and on the other hand, it provides a basis for improving the financial capabilities of the regions," the service said.
From 2003 to 2020, tax revenues from the regions of Azerbaijan have risen by 23.2 times, and the number of districts providing their income from their own sources without subsidies from the state budget reached 41.
------
Follow the author on Twitter: @jafarov_zeyni