From January to May 2014 SOCAR’s payments to the state budget of Azerbaijan totaled 822,658,000 AZN, up 26% against the same period in 2013.
Press office of the State Oil Company of Azerbaijan (SOCAR) reported that in May 2014 SOCAR paid taxes worth 171,136,000 AZN to the state budget.
From January to May 2014 SOCAR’s payments to the State Social Security Fund totaled 61,382,000 AZN. In May 2014 the company’s payments to the Social Security Fund totaled 11,164,000 AZN.
In 2013 SOCAR’s tax proceeds to the state budget totaled 1,574,437,000 AZN. In 2014 SOCAR’s plan of tax proceeds to the state budget is fixed at 1,825,000,000 AZN.
It is unclear why SOCAR’s payments to the state budget grow: the company’s production increased just a little bit, but export of oil products and oil goes down. However, the company’s capital costs grow.
