Incomes of micro businesses increase in Azerbaijan

In the first half of 2024, the income of micro-entrepreneurial entities in Azerbaijan significantly exceeded that of the previous year, Azernews reports, citing the State Statistics Committee.

Revenues from the sale of goods, work, and services in the first half of the year amounted to 465.87 million manats, a 10 percent increase from the 421.79 million manats recorded in the previous year.

However, the retail trade turnover for micro-businesses (including VAT and excise tax) decreased by 33 percent, totaling 119.61 million manats, compared to 178.96 million manats in the corresponding period of the previous year.

It should be noted that, according to the Cabinet of Ministers' decision dated December 21, 2018, business entities with 1-10 employees and an annual income of up to 200,000 manats are classified as micro businesses.