Azerbaijan approves criteria for activities in oil & gas, non-state sectors (UPDATE)
Details added (first version posted at 10:34).
Baku, Azerbaijan, Feb. 19
Azerbaijan's Cabinet of Ministers approved the "Criteria for activities in the oil and gas sector and the non-state sector", Trend reports referring to the Cabinet of Ministers on Feb. 18.
The criteria approved by the Cabinet of Ministers on Feb. 18, 2019, for companies operating in the oil and gas sector and the non-state sector, include:
- the State Oil Company of Azerbaijan and its enterprises, as well as contractors and companies operating under agreements on the shared distribution of production, the main pipeline and other similar agreements, regardless of the type of activity, are in full force;
- foreign or local subcontractors providing services to the above persons: existing subcontractors - in the event that during the last calendar year more than 50 percent of annual revenues are related to the sale of goods or the provision of services to the above companies; subcontractors that will be established during the year, they will receive income tax benefits until the month they begin to provide services or sell goods to the above persons.