In the four months since the beginning of this year the Ministry of Taxes transferred 2 billion 204.9 million AZN to the state budget. The Analytical Information Department of the Ministry reports the plan was surpassed by 4.8%.
Compared to the same period of 2015, the volume of the collected taxes decreased by 163 million, and compared to the same period in 2014 – by 445.5 million manats.
From this year the Ministry of Taxes has given "breathing space" to taxpayers: field tax audits, operational activities in trade and other objects virtually reduced to a minimum. Formally, it is explained with the intention of supporting entrepreneurship as part of measures to stimulate the development of non-oil economy.
This year the plan of contributing taxes and state duties to the state budget by the Ministry of Taxes has decreased by 410 million mantas, with the actual performance of the forecast for 2015 (7 billion 12 million AZN). -----08D
Economics
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Rovshan Najaf, President of the State Oil Company of Azerbaijan (SOCAR), and Oleg Korobchenko, Deputy Prime Minister and Minister of Industry and Trade of the Republic of Tatarstan, discussed cooperation and expressed satisfaction with the partnership between SOCAR and the Russian oil company Tatneft.
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Azerbaijan’s drive to attract investment into its industrial and agricultural zones is gaining momentum, with the government registering 31 new resident companies across economic zones in 2023. The Economic Zones Development Agency (EZDA) also granted non-resident status to one company, marking a new phase in the country’s efforts to stimulate economic growth in post-conflict areas and beyond.
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The State Oil Company of Azerbaijan (SOCAR) is stepping up its international expansion in upstream operations, marking a strategic shift in its global portfolio. The company’s recent acquisitions— a 10% stake in Israel’s Tamar gas field and a 3% share in the SARB and Umm Lulu offshore oil projects in Abu Dhabi—signal its growing ambitions beyond Azerbaijan’s borders.
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BP plans to drill 19 wells at the Azeri-Chirag-Guneshli (ACG) oilfield block in 2025, maintaining its drilling activity at the same level as in 2024, a senior company executive said on Tuesday.
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