BAKU, Azerbaijan, Aug. 18
By Zeyni Jafarov - Trend:
Over 5.27 billion manat ($3.1 billion) were transferred to the state budget of Azerbaijan through the State Tax Service under the Ministry of Economy from January through July 2021, which is 26.2 percent more than the forecast, Trend reports with reference to the State Tax Service.
Reportedly, tax revenues to the state budget increased by 14.2 percent over the year, or 655.9 million manat ($385.8 million).
“At the same time, revenues from the non-oil sector totaled over 3.8 billion manat ($2.28 billion). The forecast was fulfilled by 119.7 percent (in addition, the state budget received 628.1 million manat or $369.2 million). On annual basis, tax revenues from this sector increased by 11.1 percent, or 382.2 million manat ($224.8 million),” the ministry said.
“Total tax revenues from the private section of the non-oil and gas sector increased by 19.6 percent compared to the same period last year and amounted to 2.92 billion manat ($1.72 billion). Revenues in the regions reached 549.4 million manat or $323.1 million (the forecast was exceeded by 18.3 percent). Receipts from this source increased by 4.8 percent,”
Some 72.3 percent of taxes paid fell on the non-oil sector, and 27.7 percent - on the oil and gas sector.
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