Azerbaijani tax ministry exceeds tax revenue forecast

Wed 15 March 2017 19:32 GMT | 23:32 Local Time

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Tax revenues of the Azerbaijani state budget reached almost 939.14 million manats in January-February 2017 that exceeds the forecast by 5.2 percent, said the country’s Ministry of Taxes Mar. 15.

During the period, the ministry registered 68,174 taxpayers, and 492 of them are payers of the value added tax (VAT), Trend reports.

Revenues through the Ministry of Taxes are forecasted in the amount of 7.51 billion manats in Azerbaijan in 2017, or 46.2 percent of total volume of budget revenues.

Revenues of the Azerbaijani state budget are approved in the amount of 16.255 billion manats, expenditures – in the amount of 16.9 billion manats for 2017. Budget forecasts are formed on the basis of oil prices at $40 per barrel.

The official exchange rate is 1.7282 AZN/USD on Mar. 15.

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