The oil and gas companies operating in Azerbaijan within PSA contracts in January-September 2016 paid enterprise profit tax in the amount of 180 million 349.8 thousand manat (at the current rate about $ 105 million) to the state budget. Compared with the same period last year, the amount of payments of enterprise profit tax to the state budget by these companies fell by 64.5%.
This was reported in the government's budget documents to be discussed on 7-9 December this year.
Note that foreign companies pay taxes from PSA on a quarterly basis.
In 2016 within PSA the profit tax to the state budget of Azerbaijan amounted to 370 million manat.
During 2015, within PSA the state budget of Azerbaijan was paid profit tax in the amount of 695 million 879 thousand manat.
From 1994 to 2015, Azerbaijan signed 34 PSA contracts for the development of oil and gas fields. -12B--
Economics
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