From the beginning, off-budget revenues of the Ministry of Taxes of Azerbaijan totaled 38.9 million manat, which is 17.6 million manat or 80% more than in the first three quarters of 2015, the Ministry said.
This year, cash payments to employees and freelancers of the Taxes Ministry amounted to 35.5 million manat. This is six times more than in the comparable period of 2015. Remaining in the possession of the Ministry, 3.3 million manat was directed to different purchases, payment for services and repairs.
Note that the extra-budgetary fund of the Ministry of Taxes is formed by 50% of the funds from the financial sanctions imposed on the violators of tax laws. Last year, the Ministry of Taxes employees got 25% of the financial sanctions. After the increase in the ratio the legal income of tax employees increased significantly. ----08B
Economics
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
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