Oil and gas contractors transfer nearly AZN 0.5M of profit tax to state budget last year

Oil and gas contractors transfer nearly AZN 0.5M of profit tax to state budget last year
# 04 June 2018 14:03 (UTC +04:00)

The forecast of AZN 1.840 billion on transfers from oil fields to the state budget in 2017 has been fulfilled by 97.0% or AZN 1,784,019,700 was transferred to the state budget, Chamber of Account said in its report on execution of 2017state budget.

Despite the fact that this figure declined by AZN 305,827,100 or 14.6% compared to 2015, it rose AZN 173,987,000 or 10.8% by contrast to 2016.

SOCAR’s transfers made up AZN 131,751,700, up AZN 65,127,100 or 5.2% in comparison to a year earlier, contractors on PSAs transferred AZN 466,500,000, up AZN 108,859,900 or 30.4% compared to a year ago.

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