For 5 months of this year, the Taxes Ministry provided the state budget with 3 billion 121.7 million manat, which is 7.2% more than in the same period of 2013. In contrast to the oil and gas sector, the level of voluntary tax payments from other sectors of the economy is still low.
However, the tax authorities manage to increase revenues from the oil and gas sector is not. So far this year, the state budget was provided by the tax payments (including state taxes) from non-oil and gas sector totaling 1 717.6 million manat. This represents 55% of tax revenues since the beginning of the year. Compared to last year, the share of non oil and gas sector in tax payments increased by 3.7%.
In Azerbaijan, information on tax payments of individual subjects, according to the law "On Commercial Secrets", is considered a trade secret and is not subject to disclosure to third parties. - 08D-
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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