Oil&Gas Materials 11 August 2005 12:58 (UTC +04:00)

The International Monetary Fund (IMF) delegation on technical assistance to improvement of tax system in Azerbaijan will be in Baku from 16 to 26 August. The IMF technical delegate led by Tomas Dalfgaardom will consult the Azerbaijani government on taxation of the State Oil Company of Azerbaijan (SOCAR), the Baku representative office of the IMF told Trend.

Three IMF members will visit the SOCAR, the State Oil Fund, the Ministry of Economic Development, the Taxes and Finances Ministries in this regard. The delegation will also meet with Azer Bayramov, the Deputy Minister of Finance.

The SOCAR replaced the repayment of taxes on the base of the governmental forecast by the repayment on the base of the actual charge in 2005. The Finance Ministry develops further improvement of tax repayment system by the SOCAR. The SOCAR may be released from repayment of imported gas in 2006. All actions of the government are unified with the project on commercialization of the SOCAR, implemented by the Salans at expense of the grant of the EBRD. The Finance Ministry supposed that the SOCAR should improve financial discipline and repayment of taxes.

1 trillion manats arrears of the SOCAR for 2004 and debt on taxation of indirect subvention are remained. The company transferred approximately 3115.2 billion manats to the public budget in 2004.