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SOCAR Almost Has no Overdue Tax Payments

Business Materials 19 January 2008 12:09 (UTC +04:00)

Azerbaijan, Baku, 18 January / corr. Trend / Special Regime Tax Service Department of the Ministry of Taxes of Azerbaijan has fulfilled the forecasting tasks by 103%c as a result of 2007, Samir Mammadkhanov, the head of the Department said.

As compared to the previous years, additional AZN100 mln were transformed to the public budget by the big tax-payers excluding State Oil Company of Azerbaijan (SOCAR). The tax payments of Azerenerji, Azerigaz, ASR, AZAL State Concern, Caspar, Baku Subway, Azerkimya state company, Azersu Joint Stock Company and Ministry of Communication and Information Technology exceeded $230 mln.

According to Mammadkhanov, SOCAR has transformed AZN1.15 bln (including income tax). It is noteworthy that SOCAR has no overdue tax payments any more. Three years ago the debts of SOCAR totaled to AZN1 bln.

The debts of the other taxpayers exceed AZN750 mln., the big part accounting for Azerenerji. However, the department of Azerenerji states that the tax payments of Azerenerji have increased compared to the previous years. In 2007, the tax payments of Azerenerji exceeded AZN 80 mln while the same figure totaled to AZN50 mln in 2006.

The forecast on tax payments for SOCAR for 2008 has been determined at AZN1, 35 bln.

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