Volume of customs revenues to state budget exceeds forecast in Azerbaijan

Revenues transferred to the state budget through the Azerbaijani State Customs Committee in November 2019 exceeded the forecasted amount, chairman of the Azerbaijani State Customs Committee Safar Mehdiyev said.

Mehdiyev made the remark in Baku at the press-conference dedicated to the results of the committee’s committee from January through October 2019.

“The forecast for state budget revenues in the amount of over 3.7 billion manat ($2.2 billion) was fulfilled on November 5 and 700 million manat ($412 million) are expected to be additionally transferred till the end of the year, bringing the total collection of revenues up to 4.4 billion manat ($2.6 billion),” the chairman said.

From January through October 2019, over 3.6 billion manat ($2.1 billion) was transferred to the state budget through the State Customs Committee (an increase of 20.5 percent for the year), including customs duties worth 909.3 million manat ($535.9 million) which an increase of 21.5 percent, and value added tax worth 2.5 billion manat ($1.5 billion) which is an increase of 46.5 percent, excise taxes worth 217.3 million manat ($128 million) which is an increase of 14.2 percent and road tax worth 36,614 manat ($21,852) which is an increase of 22.4 percent.