Baku: Next year, VAT revenues, which are considered indirect taxes, are projected to exceed 9 billion manats and amount to 9,216.3 million manats, APA-Economics reports. This was reflected in the Opinion of the Chamber of Accounts on the draft state budget of the Republic of Azerbaijan for 2026.

According to Azeri-Press News Agency, VAT is expected to be the largest source of revenue in the total state budget revenues after transfers from the State Oil Fund, with a share of 23.9%. The projections highlight the significant role that VAT will play in the country’s fiscal framework in the coming years.

Furthermore, the ‘Statement on Financial Position’ component of the financial statements indicates that the Central Bank’s retained earnings at the end of 2023 and 2024 amounted to 501.2 million manats and 972.7 million manats, respectively. However, unlike the experience of 2024, no inflows are projected for the next year, as in the current year, on the free balance of the Central Bank’s realized profit.