Azerbaijani State Budget's Tax Revenues Surge (PHOTO)| MENAFN.COM

Tuesday, 05 July 2022 03:32 GMT

Azerbaijani State Budget's Tax Revenues Surge (PHOTO)


(MENAFN- Trend News Agency)

BAKU, Azerbaijan, June 14. The volume of Azerbaijani state budget revenues through the State Tax Service under the Ministry of Economy increased from January through May 2022, Trend reports via the service.

According to the service, this figure amounted to 5.8 billion manat ($3.4 billion), up by 52.3 percent on annual basis.

In the first five months of this year, 1.91 billion manat ($1.12 billion) was transferred through the State Tax Service to the budget in excess of the forecast level, and thus the forecast was fulfilled by 149.3 percent.

Meanwhile, revenues from the non-oil sector equaled 3.9 billion manat ($2.3 billion), and the forecast was fulfilled by 130.3 percent. Funds transferred in excess of the forecast amounted to 909.5 million manat ($535 million).

The service also noted that actual revenues from the non-oil sector grew by 1.15 billion manat ($680 million) or 41.8 percent compared to 5M2021.

The volume of tax revenues in the regions stood at 476.5 million manat ($280.3 million), which is 22.4 percent more year on year. The forecast was fulfilled by 114 percent, added the service.

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