BAKU, Azerbaijan, May 26. Value-added tax (VAT) revenues in Azerbaijan for this year are expected to equal 8.06 billion manat ($4.7 billion), up 6.3 percent, or 477.9 million manat ($281 million) from the approved forecast, Trend reports.
Data from the Ministry of Finance of Azerbaijan shows that after the state budget revision, 22 percent of its revenues will account for VAT.
To note, the total revenue forecast for the revised state budget of Azerbaijan in 2024 will increase from 34.17 billion manat ($20.1 billion) to 36.35 billion manat ($21.38 billion), while expenditures will increase from 36.76 billion manat ($21.6 billion) to 39.7 billion manat ($23.3 billion).
Azerbaijan's state budget revenues in the first quarter of this year exceeded the forecast by 8.07 percent, or 659.5 million manat ($387.7 million).
The country's state budget revenues exceeded 9.2 billion manat ($5.4 billion), which is 11.4 percent more than the indicator for the same period last year.