Jhoghovurd: This Year's State Budget Tax Revenues and State Fees Have Decreased

From January to July of 2020, the state budget's tax revenues and state fees amounted to 789.7 billion drams, which represents 68.1% of the target set for the first nine months of 2020. It is noteworthy that the actual figure for 2020 is 5.1% lower than the corresponding figure from 2019, equating to a decrease of 42.2 billion drams, while surpassing the 2018 figure by 17.0% or 114.5 billion drams.

Data published by the State Revenue Committee indicates that the results for 2020 fall short of the 2019 results, but are still higher than those of 2018. The primary reason for this decline is attributed to the coronavirus situation and the state of emergency that paralyzed the economy for several months.

Accordingly, from January to July 2020, revenues from value-added tax amounted to 253.9 billion drams, which is 6.6% less than the corresponding figure in 2019, but 11.6% more than in 2018. Revenues from profit tax totaled 102.5 billion drams, which is 15.4% lower than the corresponding figure in 2019 and 3.7% lower than the 2018 figure.