Azerbaijan records increase in tax revenues in non-oil and gas sectors

Head of the State Tax Service under the Azerbaijani Ministry of Economy Orkhan Nazarli has said that the tax collections of the State Tax Service amounted to 21.1 billion manats ($12.4 billion) in 2022.

Nazarli made the remarks at the conference entitled "Heydar Aliyev and the Azerbaijani tax system: towards new challenges", Report informs.

He noted that this amount reached 78.9 per cent of the total fiscal revenues of the budget.

“Tax revenues amounted to 15.5 million manats ($9.1 million) in 2022, which is 82.2 per cent more than in 2021. Tax revenues from the non-oil sector amounted to 8.1 billion manats ($4.8 billion),” the head of the State Tax Service noted.

Nazarli said that tax revenues from the non-oil and gas sector increased by 1.8 billion manats ($1.05 billion) in 2022 compared to 2017, and the fees were overfulfilled by 22.9 per cent compared to 2021.

He stressed that the nominal GDP growth rate in the non-oil and gas sector amounted to 21.6 per cent, while the nominal growth rate of tax revenues - 27.9 per cent in 2022.