Mikayil Jabbarov: "Income from excise tax in non-oil sector increases by 25%"

Kanan Sadigov
Author

In 2021, incomes from the non-oil sector in Azerbaijan increased by 17% on value-added tax (VAT), by 25% on the excise tax, and by 16.3% on profit tax, said Economy Minister Mikayil Jabbarov, Report says.

"The highest growth rates of tax revenues in the non-oil sector were in catering (84.1%), retail trade (53.7%), industry (29.3%) and the service sector (19.7%)," he said.

Other News

SOFAZ private equity investments rise 16.1% 19 October, 2026 / 21:39
SOFAZ real estate fund investments rise 7.2% 19 October, 2026 / 21:03
Gold's share in SOFAZ assets climbs to 37.9% 19 October, 2026 / 20:48
SOFAZ cuts bond investments by 17.1% 19 October, 2026 / 20:35
SOFAZ increases deposit in Japanese bank sevenfold 19 October, 2026 / 18:04
SOFAZ's net profit increased 3.4-fold in 2025 19 October, 2026 / 17:58
Since its inception, SOFAZ received over $217B in revenue 19 October, 2026 / 17:29
Central banks of Azerbaijan, Slovakia agree to strengthen institutional co-op 19 October, 2026 / 17:20
CBA, WB mull trends in financial sector development 19 October, 2026 / 16:35
WB ready to increase funding for environmental rehabilitation, infrastructure modernization in Baku 19 October, 2026 / 10:29
CBA currency exchange rates (19.10.2026) 19 October, 2026 / 09:23
Azerbaijan mulls co-op with IMF, ADB in Bangkok 17 October, 2026 / 13:55
CBA chairman links pace of economic diversification to 2027–2030 reforms 16 October, 2026 / 18:41
Taleh Kazimov: Rising oil and gas prices increase Azerbaijan's current account surplus 16 October, 2026 / 18:34
Azerbaijan's central bank forecasts inflation at 6.1% in 2026 and 5.8% in 2027 16 October, 2026 / 18:24
Baku expected to host Global Conference on State-Owned Enterprises in 2027 16 October, 2026 / 17:54
CBA, Swiss National Bank mull macroeconomic stability initiatives 16 October, 2026 / 15:10
Finance Ministry: Changes in oil prices may affect Azerbaijan's State Oil Fund assets by up to $1.8B 16 October, 2026 / 12:13
Azerbaijan Central Bank discusses cooperation with ADCB and UBS Asset Management 16 October, 2026 / 12:01
IsDB, WB to expand co-financing of development projects in member countries 16 October, 2026 / 10:33