State Tax Service fulfills budget forecast by 122%

In January-October 2021, the State Tax Service under the Economy Ministry received AZN7,362,400,000 in taxes, the forecast was fulfilled by 122.4%, Report informs, citing the service.

Compared to the same period last year, tax revenues increased by 15.8%, or more than AZN1 billion.

Revenues from the non-oil and gas sector for the first 10 months of this year amounted to AZN5,379,600,000, the forecast was fulfilled by 115.9%. In addition to the forecast, the state budget received 736.5 million manats. Compared to the same period last year, tax revenues from this sector increased by 12.9% or 616.5 million manats.

The total tax revenues of the private sector of the non-oil and gas sector increased by 19.4 percent compared to the same period last year and amounted to AZN4,880,600,000. Revenues on districts amounted to 788.8 million manats, the forecast was fulfilled by 114.6%, compared to last year, revenues from this source increased by 8.3%.

73.1% of the taxes paid came to the share of the non-oil and gas sector and 26.9% to the oil and gas sector.