Amount of SOCAR tax payments to Azerbaijan`s budget – over AZN 1.5 bn - made public


February 21, Fineko/abc.az. SOCAR paid AZN 1.62 bn to the State Budget for the past year.

ABC.AZ informs that data was taken from the report published by SOCAR.

According to the report, SOCAR's payments to the State Budget of Azerbaijan increased by about 1% against 2018.

In 2019 the main share of Company’s total payments to the country’s budget consists of the following taxes: excise tax 28%, VAT 18%, profit tax 16%, export tax 10%, mining tax 8%, profit tax 5%, property tax, land tax, road tax, tax from source and other taxes and fees, including income tax 15% of total payments.

SOCAR also paid AZN 173.6 million to the State Social Protection Fund in 2019.

By Elmir Murad