Web Desk September 17, 2021

About 5.8 billion manat ($3.4 billion) was transferred to the state budget through the State Tax Service under the Ministry of Economy of Azerbaijan from January through August 2021. The forecast was fulfilled by 123.7 percent, Trend reports via State Tax Service.

Tax revenues increased by 13.4 percent to 690.1 million manat ($405.9 million), compared to the same period of 2020.

Revenues from the non-oil sector amounted to 4.2 billion manat ($2.4 billion) from January through August 2021, the forecast was fulfilled by 117.7 percent.

The state budget received 639.9 million manat ($376.4 million), which is 11 percent or 421.8 million manat ($248.1 million) more than the same indicator in 2020.

From January through August 2021, revenues from private enterprises of the non-oil sector increased by 18.7% and amounted to 3,264 billion mantas, compared to the figures of 2020.

The volume of revenues in the regions amounted to 623.8 million manat ($366.9 million), which is 5.2 percent more than in 2020. The forecast was exceeded by 17.2 percent.

The share of the non-oil sector accounted for 73.1 percent of tax revenues, while the share of the oil and gas industry – for 26.9 percent.


Source: TREND News Agency

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