Azerbaijan posts nearly 14% surge in tax revenues from non-oil, gas sector

In 2024, 15.808 billion manats (almost $9.3 billion) of taxes were received into the state budget of Azerbaijan through the State Tax Service (STS) under the Economy Ministry, which is 538 million manats ($316.4 million) more than the forecast, Report informs, referring to the STS.

Of the total amount, 11.027 billion manats (over $6.486 billion), or 69.8% came from the non-oil and gas sector, which is 1.3 billion manats ($764.7 million) or 13.6% more compared to 2023.

Thus, the state budget received more than 337.3 million manats (just over $198,4 million) in revenue besides the forecast.

Meanwhile, 30.2% of total tax revenues fell to the oil and gas sector.