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Azerbaijani Government Reduced Taxes on Naphta for Azerbaijan’s Chemical Enterprises

Business Materials 30 March 2007 20:15
Azerbaijani Government Reduced Taxes on Naphta for   Azerbaijan’s Chemical Enterprises

Azerbaijan, Baku/ Trend , corr. I. Khalilova / By the decision made by the Azerbaijan Cabinet of Ministers, some alterations have been made into the excise rates on oil products, which has put into force since January 6, 2007 with the aim to maintain the activity of Enterprises subjected to State Company "Azerkimya", a source in the Azerbaijani Government has told Trend today.

The rate on excise tax on naphta produced and sold to chemical enterprises has been reduced.

Azerbaijan's chemical enterprises receive naphta from Baku-based Oil Refinery Plant - "Azneftyag", subjected to the State Oil Company of Azerbaijan (SOCAR). The enterprises belong to State Company "Azerkimya" needs some 300.000 tons of naphta per year.

From now and on, one liter of naphta delivered to "Azerkimya" to produce different chemical production will be subjected 8-pertcent tax, not 19-percent one.

This decision was taken by the Government of the Country after the Government's discussing issues connected with the interruption of the activity of enterprises subjected to "Azerkimya" on March, 13. During the meting of the Government, the decision to restore their activity, which had lasted for about a month, was made.

The wholesale price of 1 tons of naphta delivered to "Azerkimya" by SOCAR is AZN 210 (VAT and expenditures on delivery inclusive).

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