SOCAR transferred over AZN 1 million to Azerbaijan’s budget

16:53 - 25.05.2021


May 25, Fineko/abc.az. According to the State Tax Service, SOCAR's oil sector transfers to the State Budget amounted to AZN 1.198 bn (15% less year-on-year).

ABC.AZ reports with reference to the conclusion of the Accounts Chamber on the Bill on State Budget 2020 and the annual report on the implementation of State Budget 2020.

The amount of income tax paid by contractors operating within the agreements on the shared distribution of production in the oil and gas sector amounted to AZN 603.7 million.

"In State Budget 2020 the price of oil is laid down in the initial forecast of $55, and then in the updated budget in the amount of $35," the conclusion says.

 

Other news