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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Azerbaijan is set to host its Trade Forum on October 1, supported by “Pasha Holding” and jointly organized by the Small and Medium Business Development Agency (SME), Azerbaijan Customs representation, and the Logistics Companies Association.
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The inaugural Investment Forum on energy transition in Central Asia is set to take place on November 15-16 in Baku, Azerbaijan, organized by the International Renewable Energy Agency (IRENA) and Azerbaijan’s Ministry of Energy as part of the COP29 conference.
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At the advisory meeting of railway administrations held in Baku on September 19-20, Rovshan Rustamov, Chairman of Azerbaijan Railways CJSC (ADY), met with Ufuk Yalçın, General Director and Chairman of the Board of the Turkish State Railways Company "TCDD Taşımacılık." The meeting marked the second time this year that officials have discussed expanding railway transport cooperation between Azerbaijan and Turkey.
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The Center for Analysis of Economic Reforms and Communication (CAERC) has completed its monitoring and evaluation of the first half of the year in relation to the "I State Program on the Great Return to the Liberated Territories of the Republic of Azerbaijan." This state program focuses on restoring infrastructure and resettling displaced populations in areas that were reclaimed during the 2020 Nagorno-Karabakh conflict.
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