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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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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