Tax Ministry transferred over AZN 7 bn to State Budget


October 23, Fineko/abc.az. The Ministry of Taxes of Azerbaijan has published a report on tax revenues and transparency for Jan-Sept 2019.

According to the Ministry, the positive impact on tax revenues in this period helped the growth of the number of active taxpayers, including active VAT payers, as well as active facilities (business entities), the increase in the number of the concluded employment contracts and wage fund in the private sector, the high growth of some sectors of the economy, and increase of the level of voluntary declaration.

During this period the consolidated budget received AZN 7.68 bn from the tax authorities, including AZN 5.608 bn of taxes paid to the State Budget and AZN 2.074 bn of insurance premiums paid to the State Social Protection Fund.

By Elmir Murad