Azerbaijani Ministry of Taxes: Share of non-state sector in tax revenues increases

The share of the non-state sector in the total volume of Azerbaijan’s tax revenues over the five months of this year increased to 76.8 percent, Trend reports referring to the Ministry of Taxes of Azerbaijan.

The published figures show a significant increase in tax revenues compared to the same period last year.

In January-May, the Ministry of Taxes transferred 3.139 billion manats to the state budget, and the growth rate of tax revenues in the reporting period was 8.3 percent, exceeding the GDP growth rate (2.8 percent) on this indicator.

In the non-oil sector, the growth rate of revenues was 16.1 percent compared to the same period last year, and their share exceeded two thirds of the total volume of tax revenues.

Compared to the same period last year, the amount of tax revenues in the non-energy sector increased by 299.7 million manats and amounted to 2.166 billion manats.

Accordingly, the volume of tax revenues from the oil and gas sector amounted to 973 million manats.

The share of the non-state sector in total tax revenues increased to 76.8 percent and amounted to 2.41 billion manats.

More than half of all tax revenues for the reporting period accounted for the private non-oil sector, which amounts to 1.673 billion manats.

As of June 1 this year, the number of active taxpayers has increased to 452,242, among which 71,930 are legal entities.

The share of regions in total tax revenues increased to 9.8 percent.

In general, there was a steady increase in the number of active tax payers (including VAT) and legal entities.

The share of payments in total tax revenues greatly increased, and a high turnover rate was observed in certain sectors of the economy, the report said.

The reason, in particular, is related to reduction in the tax burden and the application of new tax incentives, according to the report.