SOCAR discloses payments to state fund
BAKU, Azerbaijan, Feb. 22
By Nargiz Ismayilova - Trend:
Azerbaijan’s SOCAR State Oil Company made payments to the state budget worth over 1.6 billion manat ($941.1 million) in 2019, Trend reports referring to the data provided by SOCAR.
According to the data, the company's payments to the budget increased by about 1 percent in 2019 compared to 2018.
In 2019, the main share in the total payments to the company’s budget made up the following taxes: excise tax - 28 percent, value added tax - 18 percent, income tax - 16 percent, export tax - 10 percent, mineral extraction tax - 8 percent, income tax - 5 percent.
Herein, property tax and other taxes and fees, including land tax, road tax amounted to 15 percent.
SOCAR also made payments to the country’s State Social Protection Fund (SSPF) worth 173.6 million manat ($102.1 million) in 2019.
(1 USD = 1.7 AZN on Feb. 22)
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