SOCAR tax payments to the state budget of Azerbaijan totaled 1 billion 266.365 million manat in January-November 2016, SOCAR reported in the media.
For the same period in 2015 SOCAR paid taxes in the amount of 1 billion 404 million 875 thousand manat. So the volume of tax deductions decreased by 9.9% over the 11 months of 2016.
In November of the current year SOCAR tax payments to the state budget of Azerbaijan amounted to 116.193 million manat.
SOCAR contributions for compulsory social insurance in January-November 2016 amounted to 131.751 million manat (4.1% growth). In November, the company’s contributions amounted to 12 million 381 thousand manat.
In 2015, SOCAR paid taxes to the state budget of Azerbaijan in the amount of 1 billion 480.195 million manat.
In 2016 the plan for SOCAR tax payments to the state budget is set at 1 billion 240 million manat. -12D--
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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