In 2009 balance profit of SOCAR to exceed 1bn manat
Azerbaijan, Baku, November 12 / Trend , E.Ismaylov /
Balance sheet profit of SOCAR (State Oil Company of Azerbaijan) in 2009 is projected at about 1.2 billion manat, Vice-President of SOCAR on Economic Affairs, Suleyman Gasimov said in an interview with Vergilar ("Taxes") newspaper. Gasimov said that profit tax for this year is projected at 277.6 million manat.
Budgetary commitments of SOCAR for 2009 is projected at more than 1.15 billion manat, said Gasimov. Since July 1 this year, upon the presidential decree, Azerigaz (distribution of gas in regions of Azerbaijan) was transferred to the ownership of SOCAR as a production unit. Tax debt of Azerigaz at the time of its transfer to SOCAR's ownership was 196 million manat, said Gasimov.
Gasimov said that since July, positive dynamics have been recorded in SOCAR's transfers to Public budget. To fulfill the tax liabilities for 2009, the company carries out all the necessary measures. In January-October SOCAR transferred 822.7 million manat to Public budget, said Gasimov.
SOCAR stated formerly that in January-October, the company transferred 94 million manat to the State Fund of Social Protection, which is 9.66 million manat more than January-October last year. In October, more than 8 million manat has been transferred to the Social Fund.
Official rate on Nov. 12 is 0.8029 AZN/USD.
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