Revenues from VAT to Azerbaijan's state budget increase

2020-05-10 06:08:51

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 10

By Eldar Janashvili - Trend:

Azerbaijan's State Customs Committee (SCC) transferred 356.9 million manat ($209.9 million) to the state budget in April 2020, which is 5.5 percent less compared to April 2019, Trend reports citing data of the SCC.

In April 2020, the amount of customs duties amounted to 69.7 million manat ($41 million), or 19.5 percent of all revenues, VAT - 272.7 million manat ($160.4 million) or 71.5 percent, excise taxes – 43.8 million manat ($25.8 million), or 3.3 percent. The road tax is 2.01 million manat ($1.2 million), making up 0.1 percent.

The share of the collected VAT increased by 5.5 percentage points due to a decrease in the excise share by 15 percent.

Revenues from customs duties decreased by 20.4 percent in April 2020 compared to April 2019, from value added tax (VAT) increased by 1.8 percent, from excise taxes decreased by 34.3 percent. Revenues from the road tax dropped by 40.8 percent.

The state budget revenues from the State Customs Committee are generated in the following four directions: customs duties, VAT, excise tax and road tax.

(1 USD = 1.7 AZN on May 10)

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