Since 2006 till January 1, 2015 the contractors, sub-contractors and the operation companies operating within the framework of production sharing agreements (PSA) have transferred 15.6 billion AZN to the state budget of Azerbaijan ($19.88 billion at the current official rate of Central Bank), Zaur Fatizada, chief of the Department of Fiscal Service, said in his interview to Vergiler newspaper of the Taxes Ministry.
The contractors transferred 11.6 billion AZN of profit tax, of which 1,107,500 AZN falls to 2014.
“In 2014 the oil and gas industry played an important role in formation of proceeds to the state budget. The oil and gas industry transferred 2,827,000,000 AZN to the budget, which makes 39.7% of total sum of tax proceeds. In 2013 this index constituted 43.8%, while in 2012 – 45.5%,” he said.
Fatizada said that as a result of the thought-out economic policy, dependence of the country’s economy on the oil industry declines every year and tax proceeds from the non-oil sector to the state budget grow.—0—
Economics
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The construction sector is undergoing significant reforms that are reshaping urban landscapes, driving economic growth, and creating jobs, said Namik Gummatov, First Deputy Chairman of the State Committee for Urban Planning and Architecture.
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Starting today, manufacturers and sellers of food and agricultural products can submit offers on the website tedaruk.az, aligning with public procurement requirements for 2025. The submission window will remain open until September 1.
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Recent reports and interviews indicate a noticeable rise in tomato prices in Azerbaijan over the past few months, primarily driven by market monopolies rather than external factors such as fuel costs or weather conditions.
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Azerbaijan's agricultural sector produced goods worth 6 billion 19 million manats in the first half of 2024, a 0.3% increase compared to the same period last year, according to a report by the State Statistics Committee (SCC). The report highlights a mixed performance across various agricultural segments, with livestock production seeing gains and crop production experiencing a decline.
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