BAKU, Azerbaijan, Sept.10
By Zeyni Jafarov - Trend:
The Azerbaijani Ministry of Finance has projected the revenues to the country's state budget through the State Tax Service under the Ministry of Economy to grow by 26 percent as compared to the previously-made forecast for 2021, Trend reports the Ministry of Finance.
According to the ministry’s forecasts, revenues from this segment will increase by 1.89 million manat - from 7.25 billion manat ($4.26 billion) to 9.14 billion manat ($5.37 billion).
The ministry plans to issue an increased forecast on revenues from the State Tax Service to the state budget until 2025.
In 2020, the ministry beat the forecast plan for transfers to the state budget by 2.7 percent, or 197.2 million manat ($116 million).
In general, in the period from 2021 to 2025, the volume of projected receipts from the Tax Service to the country's budget will increase by 3.43 billion manat ($2.02 billion), or 47 percent.
Below is a table of the projected volume of revenues from the State Tax Service of Azerbaijan for 2021-2025 and their share in total receipts:
|
Year |
Volume of projected revenues to the state budget |
Total volume of state budget revenues |
Share of the State Tax Service in total revenues (%) |
|
2021 |
7.25 billion manat ($4.26 billion) |
25.4 billion manat ($14.9 billion) |
28.5 |
|
2022 |
9.14 billion manat ($5.37 billion) |
26.4 billion manat ($15.5 billion) |
34.6 |
|
2023 |
9.61 billion manat ($5.65 billion) |
26.5 billion manat ($15.5 billion) |
36.2 |
|
2024 |
10.1 billion manat ($5.94 billion) |
26.8 billion manat ($15.7 billion) |
37.8 |
|
2025 |
10.6 billion manat ($6.23 billion) |
27.1 billion manat ($15.9 billion) |
39.4 |
In the first 7 months of this year, the forecast for this category was exceeded by 26.2 percent, and the state budget received 5.27 billion manat ($3.1 billion), which is 655.9 million manat or $385.8 million (14.2 percent) more compared to the same period of 2020.
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