Revenues from customs duties to Azerbaijan's state budget increase

By Trend

Azerbaijan’s State Customs Committee (SCC) transferred 327.7 million manat ($192.7 million) to the state budget in March 2020, which is 5.9 percent more compared to March 2019, Trend reports citing data of the SCC.

In March 2020, the amount of customs duties amounted to 87.14 million manat ($51.2 million), or 26.6 percent of all revenues, VAT - 225.2 million manat ($132.4 million), comprising 68.7 percent, excise taxes - 11.85 million manat ($6.9 million), or 3.6 percent. The road tax is 3.49 million manat ($2.05 million), making up 0.1 percent.

The share of collected customs duties increased by 2.1 percentage points due to a reduction in the excise share.

Revenues from customs duties increased by 10.7 percent in March 2020 compared to the same month of 2019, from value added tax (VAT) - by 3.2 percent, from excise taxes - by 2.9 percent. Revenues from the road tax dropped four times.

State budget revenues from the State Customs Committee are generated in the following four directions: customs duties, VAT, excise tax and road tax.

(1 USD = 1.7 AZN on Apr. 16)