Azerbaijan sees decline in tax revenues since early 2024

In the first seven months of this year, tax revenues to Azerbaijan’s state budget through the State Tax Service under the Ministry of Economy amounted to 10.272 billion manats ($6.04 billion), which is 8.5% less than the same period last year.

Out of the total tax revenues for the period, 6.944 billion manats ($4.08 billion) were generated from the non-oil and gas sector. This represents an increase of 778.8 million manats ($458.1 million) or 12.6% compared to January-July 2023, Caliber.Az reports, citing the State Tax Service.

According to the Service, 67.6% of the taxes paid came from the non-oil and gas sector, while 32.4% originated from the oil and gas sector.