Azerbaijani agency reports enormous revenue

The Intellectual Property Agency earned 1,902,473 manats ($ 1119101.76) in revenue last year, Azernews reports, citing the agency's report for the year 2023.

It was noted that during the reporting year, the state budget received 224 thousand manats ($131764.70) in state fees due to the agency's provision of services stipulated in the "Law on State Fees" and the implementation of legal activities.

The amount of service fees received in 2023 for providing services stipulated by legislation and performing other tasks amounted to 4,760,875 manats ($2800514.69) , while expenses amounted to 2,858,402 manats ($1681412.93). Thus, the revenue of the Intellectual Property Agency amounted to 1,902,473 manats ($ 1119101.76) . This is 237,826 manats ($139897.65) more compared to 2022.