Amount of taxes and duties listed by the Ministry of Taxes of Azerbaijan to the state budget in January-April of this year amounted to 2 billion 513 million 825.7 thousand manats (+12.4% compared to the same period last year).
According to a press release from the Ministry, the line is not the oil and gas sector revenues amounted to 1 billion 224 million 932.2 thousand manats (9.9% or 48.7% of revenues).
Value-added tax brought into the state treasury 20.2% of revenues through the Ministry, income tax - 47.6%, income tax - 10.3%, excise duties - 7%, other income - other species.
Recall, the President approved the annual tax revenues in the state budget as 6.4 billion manat. The current rate includes excess of the fulfillment of the limit by 11-12%. - 17D-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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