Azerbaijan’s State Customs Committee increases deductions to state budget

Azerbaijan’s State Customs Committee increases deductions to state budget

Economy
08 November 2019, 15:01 452
Azerbaijan’s State Customs Committee (SCC) transferred 395.2 million manat ($232.4 million) to the state budget in September 2019, which is 4.5 percent more than in the same period last year, Trend reports referring to data provided by the SCC.
Revenues to the state budget through SCC are formed from customs duties, value added tax (VAT), excise tax and road tax.
In September this year, customs duties amounted to 110.8 million manat ($65.1 million), or 28 percent of all revenues, VAT - 264.8 million manat ($155.7 million), or 67 percent, excise taxes - 15.8 million manat ($9.2 million), or 4 percent, road tax - 3.7 million manat ($2.1 million), or 0.9 percent).
Compared to October 2018, an 18.8-percent increase was observed in revenues from customs duties, along with an increase of 0.4 percent for revenues from VAT. This is while a 20 percent decrease in revenues from road tax and 4.3 percent from excise taxes was observed.