SOCAR’s payments to Azerbaijan state budget dropped by more than 85 mln AZN

From January to July 2016 tax allocations of State Oil Company of Azerbaijan (SOCAR) to the state budget totaled 788,852,000 AZN. The payments to the budget decreased by 9.77% or 85,403,000 AZN against the same period last year.

SOCAR press office reported that in July 2016 SOCAR’s tax allocations to the Azerbaijan’s state budget totaled 127,110,000 AZN. In July 2015 they totaled 145,525,000 AZN.

From January to July 2016 SOCAR’s allocations to mandatory social insurance totaled 81,606,000 AZN (growth by 0.8%). In July 2016 the company’s allocations totaled 12,074,000 AZN (11,173,000 AZN).

In 2015 SOCAR paid taxes to the state budget of Azerbaijan to the amount of 1,480,195,000 AZN.

In  2016 SOCAR plans to allocate taxes to the amount of 1,240,000,000 AZN to the state budget.