Revenues from PSA agreements in Azerbaijan unveiled

Revenue in the form of income tax increased by 25% compared with 2013 year and by 16% with 2014

Baku. 28 May. REPORT.AZ/ In 2015, revenues in the form of income tax from employees of contractors and foreign subcontractors operating under PSA arrangements (production sharing) amounted to 293 186.6 thousand AZN. This is more by 24.5% than in 2013, and by 16% than in 2014. At the same time, the forecast for 2015 is executed with a deficit of 2.5%.

Report informs, report of the chamber on annual overview on implementation of Azerbaijan's state budget for 2015, declares.

Revenue in the form of income tax on of individuals not associated with employment in contracting and subcontracting foreign companies operating under PSA agreements, increased by 2.7% compared with 2013 and decreased by 8% compared to 2014 , the forecast for 2015 is executed with a deficit of 6.4%.

Over the past year, the forecast for income tax of contractors operating under the PSA agreement, executed by 87%, revenues amounted to 695 879.0 thousand AZN, which is less by 51.1% than in 2013 and by 37.2% in 2014.

During the reporting period, revenue from income tax of foreign contractors amounted to 192 818.7 thousand AZN or more by 7.1% than projected. This is 20% more than in 2013 and 41.1% in 2014.

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