In 2006 Taxes Ministry Revealed Facts with Incorrect Calculations of Taxes by Foreign Oil Companies Working in Azerbaijan
The Azerbaijan Taxes Ministry has tightened the control over the oil returns in the country in 2006, as well as the preparation for a mechanism of the control over introduction of up-to-date and efficient technologies to the revenues gained by foreign companies operating in the country, Trend reports.
Fazil Mamadov, Azerbaijan Finance Minister, said during the meeting of the Azerbaijan Cabinet of Ministers under the chairmanship of President Ilham Aliyev, which was dedicated to the social and economic results of 2006 and forthcoming tasks for 2007, that according to the results of check ups conducted in 2006, facts on incorrect calculations with taxes were revealed in foreign companies operating in Azerbaijan oil sector. These companies were charged to the sum of $35 mln.
At the same time, as a result of taken measures, the tax discipline was improved in the non-oil sector. In the reporting period, the weight of allotments received from the non-oil sector reached 12%, and tax allotments (except the payment of foreign subcontractors-parties to the Consortium) reached 28,1%. The allotments to the State Budget from the non-oil sector reached 638,8 mln. AZN in total.