Since early year SOCAR’s payments to state budget significantly decreased

            From January to May 2015 payments of State Oil Company of Azerbaijan (SOCAR) to the Azerbaijan state budget totaled 605,042,000 AZN, reported SOCAR press office.

            During five months last year SOCAR’s payments to the state budget totaled 822,658,000 AZN, up 26% against the same period in 2013. Therefore, from January to May 2015 SOCAR’s allocations decreased by 26.5%.

            In May 2015 SOCAR paid taxes to the amount of 132,096,000 AZN to the state budget (in May 2014 – 171,136,000 AZN).

            From January to May 2015 SOCAR paid 57,842,000 AZN to the State Social Security Fund (61,382,000 AZN). In May 2015  SOCAR’s payments to the Social Security Fund totaled 11,248,000 AZN (11,164,000 AZN).

            In 2015 SOCAR’s plan of tax allocations to the state budget was fixed at 1.5 billion AZN. Last year this index was 1,825,000,000 AZN.

Reduction of tax payments to the state budget is connected with slump of oil and oil products prices.