Bank Of Baku

Azercell decreases budget payments

Azercell decreases budget payments
# 10 February 2011 08:56 (UTC +04:00)
Company says it has transferred $ 114.6 mln in 2010, while it was $ 150.7 mln in 2009.

In general, Azercell has transferred $ 868.2 mln during 14 years. The company is one of the large tax payers in non-oil sector.

Company says decrease of budget payment is related with decline of company’s expenditure (excluding investment expenses), decrease of profit tax from 22% to 20%, as well replacement of VAT on some payments.

At the same time, company has invested $ 108.2 mln, in 2010, up 86.9% compared to a year ago.

Remind that, Azercell has been in operation since 1996.
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