Azerbaijani Agency Reports Enormous Revenue

The Intellectual Property Agency earned 1,902,473 manats ($1119101.76) in revenue last year, Azernews reports, citing the agency's report for the year 2023.

It was noted that during the reporting year, the state budgetreceived 224 thousand manats ($131764.70) in state fees due to theagency's provision of services stipulated in the "Law on StateFees" and the implementation of legal activities.

The amount of service fees received in 2023 for providingservices stipulated by legislation and performing other tasksamounted to 4,760,875 manats ($2800514.69) , while expensesamounted to 2,858,402 manats ($1681412.93). Thus, the revenue ofthe Intellectual Property Agency amounted to 1,902,473 manats ($1119101.76) . This is 237,826 manats ($139897.65) more compared to2022.

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