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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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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