Approximately half of the increase in economic activity is related to the “formalization” effect of the economy.
“Elchi” reports that this was stated by Orkhan Nazarli, Head of the State Tax Service, during his speech at the “Future Outlook in the Tax System: New Management Model and Data-Driven Decisions” Forum.
He stated that the volume of fiscal revenues falling to the State Tax Service in 2025 was close to 24.2 billion manats, constituting 79.1% of total fiscal collections.
According to O. Nazarli, tax revenues to the state budget last year amounted to 16.4 billion manats, of which more than 12 billion manats fell to the share of the non-oil and gas sector.
Revenues in this sector increased by 1 billion manats compared to the previous year.
He noted that the share of the non-oil and gas sector in total tax revenues was 72.4%, and for the private sector, it was 76%.
According to the head of the STS, the positive dynamics achieved are not only due to the strengthening of administrative control but also related to the legalization of economic activity and the increase in mutual trust with taxpayers.